Rambus (NASDAQ:RMBS) Given New $130.00 Price Target at Rosenblatt Securities

Rambus (NASDAQ:RMBS) had its price objective increased by Rosenblatt Securities from $90.00 to $130.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. Arete Research upgraded Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Jefferies Financial Group raised their price target on Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Thursday, August 28th. Susquehanna lifted their price target on Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Rambus has a consensus rating of “Buy” and an average target price of $93.50.

Rambus Stock Performance

Rambus stock opened at $97.52 on Wednesday. The company has a market cap of $10.49 billion, a P/E ratio of 46.00 and a beta of 1.38. Rambus has a one year low of $38.01 and a one year high of $100.73. The business has a fifty day moving average of $73.74 and a two-hundred day moving average of $61.13.

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the transaction, the director directly owned 63,371 shares in the company, valued at $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $91.70, for a total value of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,260 shares of company stock worth $2,407,852. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Rambus during the 1st quarter worth approximately $25,000. Tsfg LLC bought a new stake in shares of Rambus in the first quarter worth about $26,000. True Wealth Design LLC lifted its holdings in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Bessemer Group Inc. raised its stake in Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 238 shares during the last quarter. Finally, Orion Capital Management LLC bought a new position in Rambus in the 4th quarter worth $37,000. 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.