Rambus (NASDAQ:RMBS) Shares Gap Up – Should You Buy?

Rambus, Inc. (NASDAQ:RMBS) gapped up prior to trading on Friday . The stock had previously closed at $121.60, but opened at $125.87. Rambus shares last traded at $122.4460, with a volume of 247,628 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Evercore ISI increased their target price on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research note on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Rambus currently has an average rating of “Buy” and a consensus price target of $108.14.

Rambus Stock Performance

The stock has a 50-day moving average of $100.64 and a 200 day moving average of $92.20. The firm has a market capitalization of $12.25 billion, a P/E ratio of 53.95 and a beta of 1.51.

Insider Activity at Rambus

In other news, Director Eric B. Stang sold 4,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the sale, the director directly owned 20,394 shares in the company, valued at approximately $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of hedge funds have recently added to or reduced their stakes in RMBS. Hussman Strategic Advisors Inc. bought a new stake in Rambus in the third quarter valued at approximately $1,094,000. Nordea Investment Management AB boosted its position in shares of Rambus by 1,216.0% during the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares in the last quarter. Oak Grove Capital LLC acquired a new position in shares of Rambus in the 2nd quarter valued at $519,000. First Citizens Bank & Trust Co. grew its holdings in shares of Rambus by 250.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after buying an additional 9,718 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Rambus by 57.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock valued at $5,464,000 after buying an additional 19,046 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.