Rambus (NASDAQ:RMBS) Stock Rating Upgraded by Wall Street Zen

Rambus (NASDAQ:RMBS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of “Buy” and an average price target of $75.00.

Rambus Stock Performance

Shares of RMBS stock opened at $68.21 on Friday. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 35.53 and a beta of 1.24. Rambus has a 52 week low of $37.43 and a 52 week high of $69.43. The firm’s 50-day simple moving average is $59.61 and its two-hundred day simple moving average is $56.80.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 6,348 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer owned 319,241 shares of the company’s stock, valued at approximately $14,994,749.77. This represents a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the sale, the director directly owned 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,848 shares of company stock worth $602,933 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rambus

A number of hedge funds and other institutional investors have recently bought and sold shares of RMBS. Proficio Capital Partners LLC purchased a new position in Rambus in the 4th quarter worth approximately $978,000. Farther Finance Advisors LLC boosted its stake in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Rambus in the 4th quarter valued at $331,000. Corient Private Wealth LLC purchased a new stake in shares of Rambus in the 4th quarter valued at $269,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Rambus in the 4th quarter valued at $529,000. Hedge funds and other institutional investors 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.