Rambus, Inc. (NASDAQ:RMBS) Receives Consensus Rating of “Buy” from Brokerages

Rambus, Inc. (NASDAQ:RMBS) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $108.1429.

A number of brokerages recently commented on RMBS. Wells Fargo & Company upped their target price on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Evercore ISI lifted their price objective 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. Susquehanna set a $100.00 price objective on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th.

Insider Buying and Selling at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $102.35, for a total transaction of $511,750.00. Following the completion of the transaction, the director owned 24,394 shares in the company, valued at approximately $2,496,725.90. This trade represents a 17.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of institutional investors have recently modified their holdings of the business. Steigerwald Gordon & Koch Inc. acquired a new position in Rambus in the 3rd quarter worth about $25,000. True Wealth Design LLC grew its holdings in Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares during the period. Abound Wealth Management purchased a new stake in shares of Rambus in the third quarter valued at approximately $28,000. Spire Wealth Management raised its stake in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after buying an additional 201 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Price Performance

NASDAQ RMBS opened at $115.31 on Friday. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 54.65 and a beta of 1.51. The stock’s fifty day moving average price is $97.73 and its 200 day moving average price is $90.15. Rambus has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.18). The firm had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. Research analysts expect that Rambus will post 1.89 earnings per share for the current year.

About Rambus

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.