Rambus (NASDAQ:RMBS) Sets New 12-Month High on Analyst Upgrade

Rambus Inc. (NASDAQ:RMBS – Get Rating) hit a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $42.00 to $50.00. The stock traded as high as $41.22 and last traded at $41.22, with a volume of 4923 shares. The stock had previously closed at $39.42.

Several other brokerages also recently commented on RMBS. Susquehanna Bancshares boosted their target price on Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a research note on Tuesday, November 1st. Rosenblatt Securities boosted their target price on Rambus from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 1st. Susquehanna upped their price objective on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research note on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Rambus from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. Finally, StockNews.com initiated coverage on Rambus in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.17.

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $34.25, for a total value of $256,875.00. Following the sale, the director now directly owns 33,180 shares in the company, valued at $1,136,415. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Xianzhi Sean Fan sold 52,852 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $37.88, for a total value of $2,002,033.76. Following the sale, the chief operating officer now directly owns 127,886 shares in the company, valued at $4,844,321.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric B. Stang sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $34.25, for a total value of $256,875.00. Following the completion of the sale, the director now owns 33,180 shares in the company, valued at $1,136,415. The disclosure for this sale can be found here. Insiders have sold 127,124 shares of company stock worth $4,825,048 over the last ninety days. Insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently modified their holdings of the business. Maryland State Retirement & Pension System bought a new position in shares of Rambus during the 4th quarter worth approximately $1,585,000. Sequoia Financial Advisors LLC bought a new position in shares of Rambus during the 4th quarter worth approximately $227,000. Contravisory Investment Management Inc. boosted its holdings in shares of Rambus by 15.8% during the 4th quarter. Contravisory Investment Management Inc. now owns 10,111 shares of the semiconductor company’s stock worth $362,000 after buying an additional 1,379 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rambus by 3.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,155,544 shares of the semiconductor company’s stock worth $29,374,000 after buying an additional 36,943 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Rambus during the 3rd quarter worth approximately $872,000. 85.99% of the stock is currently owned by institutional investors.

Rambus Stock Performance

The stock has a market capitalization of $4.49 billion, a P/E ratio of -181.60 and a beta of 1.24. The business has a fifty day simple moving average of $37.37 and a 200-day simple moving average of $30.21.

Rambus (NASDAQ:RMBS – Get Rating) last issued its earnings results on Monday, October 31st. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Rambus had a positive return on equity of 20.24% and a negative net margin of 5.69%. The company had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $141.00 million. During the same period last year, the business earned $0.29 EPS. Rambus’s quarterly revenue was up 38.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Rambus Inc. will post 1.52 earnings per share for the current year.

Rambus Company Profile

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Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.