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

Shares of Rambus, Inc. (NASDAQ:RMBS) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $130.4286.

RMBS has been the subject of a number of recent research reports. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Jefferies Financial Group lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Finally, Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th.

Rambus Trading Down 0.4%

NASDAQ:RMBS opened at $148.02 on Friday. Rambus has a 12 month low of $52.12 and a 12 month high of $161.80. The stock has a market capitalization of $16.01 billion, a PE ratio of 70.49 and a beta of 1.79. The firm’s 50 day moving average is $117.51 and its 200 day moving average is $105.64.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Research analysts predict that Rambus will post 2.44 earnings per share for the current year.

Insider Buying and Selling at Rambus

In related news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the transaction, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. The trade was a 10.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 99,764 shares of company stock valued at $12,400,764 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RMBS. NewEdge Advisors LLC increased its holdings in shares of Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 9,375 shares during the period. Empowered Funds LLC increased its holdings in shares of Rambus by 34.1% in the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Rambus by 6.6% in 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 purchasing an additional 19,120 shares during the period. Acadian Asset Management LLC bought a new position in shares of Rambus in the first quarter worth $218,000. Finally, Quantbot Technologies LP bought a new position in shares of Rambus in the second quarter worth $102,000. Institutional investors own 88.54% of the company’s stock.

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.