StockNews.com Upgrades Rambus (NASDAQ:RMBS) to Buy

Rambus (NASDAQ:RMBS) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other equities research analysts also recently weighed in on the company. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Susquehanna lifted their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. Wells Fargo & Company lifted their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $75.00.

Rambus Trading Down 1.1 %

NASDAQ RMBS opened at $50.72 on Friday. Rambus has a 1 year low of $37.43 and a 1 year high of $69.15. The company has a fifty day simple moving average of $50.90 and a 200 day simple moving average of $54.79. The company has a market cap of $5.45 billion, a P/E ratio of 30.55 and a beta of 1.20.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,300 shares of company stock valued at $6,745,221 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Tsfg LLC acquired a new stake in Rambus during the 1st quarter valued at $26,000. UMB Bank n.a. lifted its stake in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Rambus during the 4th quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ grew its stake in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 640 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 794 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

About Rambus

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.