Rambus (NASDAQ:RMBS) Upgraded at StockNews.com

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

A number of other equities research analysts also recently weighed in on the stock. Susquehanna boosted their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. 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 objective on Rambus in a research report on Monday, February 3rd. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $75.00.

Rambus Price Performance

Rambus stock opened at $51.29 on Friday. The company has a market cap of $5.51 billion, a PE ratio of 30.90 and a beta of 1.20. Rambus has a 12 month low of $37.43 and a 12 month high of $69.15. The company has a fifty day moving average price of $51.06 and a two-hundred day moving average price of $54.64.

Insider Activity

In other news, CEO Luc Seraphin sold 6,348 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the transaction, the chief executive officer now directly owns 319,241 shares in the company, valued at $14,994,749.77. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,300 shares of company stock valued at $6,745,221. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Hedge funds have recently modified their holdings of the company. Tsfg LLC bought a new position in Rambus during the first quarter valued at about $26,000. UMB Bank n.a. boosted its position in shares of Rambus by 554.9% during the 4th 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 acquired a new position in shares of Rambus in the 4th quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 640 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after purchasing an additional 794 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.