Rambus (NASDAQ:RMBS) Upgraded at Benchmark

Benchmark upgraded shares of Rambus (NASDAQ:RMBS) to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on RMBS. Jefferies Financial Group raised their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Rosenblatt Securities increased their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Wells Fargo & Company lifted their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Stock Up 0.0%

Rambus stock opened at $101.44 on Wednesday. The company has a market capitalization of $10.97 billion, a P/E ratio of 48.30 and a beta of 1.84. The stock’s 50 day moving average is $131.72 and its 200 day moving average is $114.01. Rambus has a twelve month low of $62.81 and a twelve month high of $174.10.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. As a group, equities analysts expect that Rambus will post 2.44 EPS for the current year.

Insider Transactions at Rambus

In other news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 65,886 shares of company stock valued at $10,171,466. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the period. Norges Bank purchased a new stake in Rambus during the fourth quarter valued at approximately $156,356,000. Bank of America Corp DE raised its position in Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the period. Bessemer Group Inc. boosted its stake in shares of Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in shares of Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.