Rambus (NASDAQ:RMBS) Shares Up 7.3% - Time to Buy?

Rambus Inc. (NASDAQ:RMBS - Get Free Report)'s share price traded up 7.3% during trading on Tuesday . The company traded as high as $67.34 and last traded at $67.55. 613,565 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,003,868 shares. The stock had previously closed at $62.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. Baird R W raised Rambus to a "strong-buy" rating in a report on Monday, November 25th. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price target for the company. Finally, StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Rambus currently has a consensus rating of "Buy" and a consensus target price of $76.71.

Rambus Stock Down 3.4 %

The company has a market cap of $6.69 billion, a PE ratio of 37.79 and a beta of 1.26. The stock has a 50-day moving average of $59.69 and a 200-day moving average of $51.39.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,360 shares of company stock worth $4,182,809 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Rambus

A number of large investors have recently added to or reduced their stakes in RMBS. UMB Bank n.a. raised its position in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 455 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Rambus in the fourth quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ boosted its position in Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 640 shares in the last quarter. Quarry LP boosted its position in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.