Rambus, Inc. (NASDAQ:RMBS) Given Consensus Rating of “Buy” by Analysts

Shares of Rambus, Inc. (NASDAQ:RMBS) have received a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $108.1429.

RMBS has been the topic of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, October 28th. Robert W. Baird raised their price objective on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Evercore ISI boosted their target price on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, 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.

Rambus Stock Up 0.8%

Shares of NASDAQ RMBS opened at $98.81 on Friday. The stock’s fifty day simple moving average is $99.18 and its 200 day simple moving average is $80.02. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 46.83 and a beta of 1.51. Rambus has a 52-week low of $40.12 and a 52-week high of $114.55.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The company had revenue of $178.51 million during the quarter, compared to analyst estimates of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. As a group, analysts anticipate that Rambus will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares of the company’s stock, valued at $2,639,459.12. This represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric B. Stang sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the transaction, the director directly owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,227 shares of company stock valued at $2,499,780. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP increased its stake in shares of Rambus by 8.2% in the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after acquiring an additional 121 shares during the last quarter. IFP Advisors Inc grew its stake in Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares in the last quarter. Swiss Life Asset Management Ltd acquired a new position in Rambus in the 3rd quarter worth about $509,000. KERR FINANCIAL PLANNING Corp acquired a new position in Rambus in the 3rd quarter worth about $828,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Rambus by 1,194.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 466 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.