Rambus, Inc. (NASDAQ:RMBS) Receives Average Recommendation of “Buy” from Analysts

Shares of Rambus, Inc. (NASDAQ:RMBS) have earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $108.1429.

Several equities research analysts have commented on RMBS shares. Evercore ISI boosted their price objective on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. William Blair started coverage on Rambus in a research report on Thursday. They set an “outperform” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price 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 Transactions at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the completion of the sale, the director owned 20,394 shares of the company’s stock, valued at approximately $2,279,641.32. This represents a 16.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Rambus by 124.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,343 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 1,298 shares during the last quarter. Oak Ridge Investments LLC increased its position in shares of Rambus by 89.2% during the 4th quarter. Oak Ridge Investments LLC now owns 3,828 shares of the semiconductor company’s stock worth $352,000 after purchasing an additional 1,805 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Rambus by 59.6% in the 4th quarter. State of Alaska Department of Revenue now owns 18,476 shares of the semiconductor company’s stock valued at $1,697,000 after buying an additional 6,901 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Rambus by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,460 shares of the semiconductor company’s stock valued at $685,000 after buying an additional 506 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in Rambus by 4.4% in the fourth quarter. Diversify Advisory Services LLC now owns 12,293 shares of the semiconductor company’s stock valued at $1,130,000 after buying an additional 516 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Down 7.6%

RMBS opened at $115.31 on Friday. The firm’s fifty day simple moving average is $97.73 and its two-hundred day simple moving average is $90.15. Rambus has a 52-week low of $40.12 and a 52-week high of $135.75. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 54.65 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The company had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. On average, research analysts forecast that Rambus will post 1.89 EPS 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.