Rambus Inc. (NASDAQ:RMBS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Rambus Inc. (NASDAQ:RMBS) have been assigned an average recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $74.67.

A number of research firms have weighed in on RMBS. Robert W. Baird started coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several institutional investors have recently made changes to their positions in the business. UMB Bank n.a. grew 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 buying an additional 455 shares during the period. Quarry LP purchased a new stake in shares of Rambus in the 2nd quarter worth $38,000. GAMMA Investing LLC raised its holdings in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 1,769 shares during the period. Blue Trust Inc. lifted its position in Rambus by 255.9% during the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 2,920 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in Rambus by 58.2% during the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 1,582 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 3.8 %

NASDAQ RMBS opened at $61.92 on Tuesday. The stock’s fifty day moving average price is $56.20 and its 200-day moving average price is $50.30. The stock has a market cap of $6.60 billion, a P/E ratio of 38.46 and a beta of 1.23. Rambus has a 12 month low of $37.42 and a 12 month high of $76.38.

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.