Brokerages Set Rambus, Inc. (NASDAQ:RMBS) Price Target at $134.75

Rambus, Inc. (NASDAQ:RMBS) has received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $134.75.

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a report on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Benchmark began coverage on Rambus in a research note on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Rosenblatt Securities raised their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th.

Insider Transactions at Rambus

In related news, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rambus

Hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its position in Rambus by 28.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after buying an additional 33,060 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Rambus during the second quarter worth $1,226,000. Harbor Investment Advisory LLC purchased a new stake in shares of Rambus during the second quarter worth $135,000. CoreCap Advisors LLC acquired a new stake in shares of Rambus in the second quarter valued at $53,000. Finally, Pacer Advisors Inc. raised its stake in shares of Rambus by 80.9% in the first quarter. Pacer Advisors Inc. now owns 37,001 shares of the semiconductor company’s stock valued at $3,183,000 after acquiring an additional 16,542 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Trading Down 0.6%

Shares of NASDAQ:RMBS opened at $100.85 on Friday. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 48.02 and a beta of 1.84. Rambus has a 12-month low of $62.81 and a 12-month high of $174.10. The business has a 50-day moving average price of $131.05 and a 200 day moving average price of $114.20.

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

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.