StockNews.com Upgrades Rambus (NASDAQ:RMBS) to “Buy”

Rambus (NASDAQ:RMBS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other analysts also recently weighed in on the stock. Evercore ISI began coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $76.71.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $45.72 on Friday. The firm has a market capitalization of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20. Rambus has a 1-year low of $37.43 and a 1-year high of $69.15. The business’s fifty day moving average price is $53.99 and its two-hundred day moving average price is $54.22.

Insider Buying and Selling

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,952 shares of company stock worth $6,447,055 in the last 90 days. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rambus

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Rambus during the 3rd quarter worth $407,000. Sanctuary Advisors LLC increased its holdings in Rambus by 30.2% in the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 1,228 shares during the last quarter. World Investment Advisors LLC acquired a new position in Rambus in the third quarter valued at about $989,000. Franklin Resources Inc. boosted its holdings in Rambus by 7.2% during the third quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company’s stock worth $18,612,000 after buying an additional 27,764 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Rambus by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after buying an additional 514 shares during the period. Institutional investors and hedge funds 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.