Analysts Set Rambus Inc. (NASDAQ:RMBS) Target Price at $75.00

Rambus Inc. (NASDAQ:RMBS) has been assigned an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $75.00.

Several research firms have recently issued reports on RMBS. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. Finally, Susquehanna increased their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th.

Rambus Trading Down 1.8%

Shares of RMBS opened at $54.63 on Monday. Rambus has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a market capitalization of $5.87 billion, a P/E ratio of 32.91 and a beta of 1.24. The stock’s fifty day simple moving average is $51.13 and its 200 day simple moving average is $55.41.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company’s stock, valued at approximately $17,998,433.84. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Laub sold 3,653 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director now directly owns 10,904 shares of the company’s stock, valued at $605,826.24. This represents a 25.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,001 shares of company stock worth $3,080,226 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Banque Cantonale Vaudoise acquired a new stake in Rambus in the first quarter valued at $25,000. Tsfg LLC bought a new stake in shares of Rambus in the 1st quarter worth about $26,000. UMB Bank n.a. raised its stake in shares of Rambus by 554.9% in 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 bought a new position in shares of Rambus during the fourth quarter worth about $37,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Rambus by 927.5% in the fourth 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. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.