Rambus, Inc. (NASDAQ:RMBS) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Rambus, Inc. (NASDAQ:RMBSGet Free Report) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $75.00.

A number of research firms have recently weighed in on RMBS. Rosenblatt Securities reiterated a “buy” rating and set a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Monday, May 19th.

Get Our Latest Analysis on RMBS

Insider Activity

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the transaction, the chief executive officer now directly owns 306,931 shares in the company, valued at approximately $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Laub sold 1,847 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the transaction, the director now owns 9,057 shares of the company’s stock, valued at $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,848 shares of company stock worth $2,644,133. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Rambus during the 1st quarter worth $1,413,000. Ellsworth Advisors LLC bought a new position in shares of Rambus during the first quarter worth about $3,868,000. Acadian Asset Management LLC bought a new position in shares of Rambus during the first quarter worth about $218,000. Intech Investment Management LLC raised its position in shares of Rambus by 39.2% during the first quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company’s stock worth $4,166,000 after acquiring an additional 22,677 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after acquiring an additional 19,120 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Stock Down 0.7%

Shares of NASDAQ:RMBS opened at $59.94 on Friday. Rambus has a 12-month low of $37.43 and a 12-month high of $69.15. The company’s 50 day moving average price is $52.74 and its two-hundred day moving average price is $55.67. The firm has a market cap of $6.44 billion, a PE ratio of 31.22 and a beta of 1.20.

About Rambus

(Get Free Report

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.

See Also

Analyst Recommendations for Rambus (NASDAQ:RMBS)

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