Rambus (NASDAQ:RMBS) Given New $126.00 Price Target at Evercore ISI

Rambus (NASDAQ:RMBS) had its target price lifted by Evercore ISI from $114.00 to $126.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the company. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Susquehanna set a $100.00 target price on Rambus and gave the company a “neutral” rating in a research report on Monday, October 6th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Thursday, August 28th. Wall Street Zen lowered Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price target on shares of Rambus in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $103.38.

Rambus Price Performance

Shares of Rambus stock opened at $103.72 on Tuesday. Rambus has a 1 year low of $40.12 and a 1 year high of $114.55. The firm has a market cap of $11.16 billion, a PE ratio of 48.92 and a beta of 1.46. The stock has a fifty day moving average price of $91.48 and a 200-day moving average price of $71.08.

Insider Transactions at Rambus

In other news, CFO Desmond Lynch sold 9,074 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares of the company’s stock, valued at $5,908,231. This represents a 12.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 1,111 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director directly owned 63,371 shares in the company, valued at $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,913 shares of company stock worth $2,474,452 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Rambus

A number of institutional investors have recently added to or reduced their stakes in RMBS. Banque Cantonale Vaudoise purchased a new stake in Rambus during the 1st quarter worth about $25,000. Steigerwald Gordon & Koch Inc. purchased a new stake in Rambus during the 3rd quarter worth about $25,000. True Wealth Design LLC lifted its holdings in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 260 shares in the last quarter. Abound Wealth Management purchased a new stake in Rambus during the 3rd quarter worth about $28,000. Finally, Bessemer Group Inc. lifted its holdings in Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.