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

Rambus, Inc. (NASDAQ:RMBS) has earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $134.75.

A number of brokerages recently weighed in on RMBS. Benchmark began coverage on shares of Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price objective on the stock. Rosenblatt Securities lifted their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Jefferies Financial Group boosted their target price 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. Evercore reissued an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th.

Rambus Stock Performance

RMBS opened at $103.83 on Friday. The stock has a market capitalization of $11.23 billion, a P/E ratio of 49.44 and a beta of 1.84. The company’s 50-day simple moving average is $129.94 and its two-hundred day simple moving average is $114.38. Rambus has a 52-week low of $62.81 and a 52-week high of $174.10.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Research analysts forecast that Rambus will post 2.44 EPS for the current fiscal year.

Insider Activity at Rambus

In related news, Director Meera Rao sold 2,972 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director owned 19,974 shares in the company, valued at approximately $3,002,092.20. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,886 shares of company stock valued at $10,171,466 in the last 90 days. 0.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rambus

Several institutional investors have recently made changes to their positions in RMBS. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus in the fourth quarter worth approximately $25,000. Torren Management LLC purchased a new stake in Rambus during the fourth quarter valued at approximately $26,000. Spire Wealth Management increased its holdings in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Rambus in the fourth quarter worth approximately $28,000. Finally, CoreCap Advisors LLC bought a new position in Rambus in the second quarter worth approximately $53,000. Institutional investors own 88.54% of the company’s stock.

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.