Rambus, Inc. (NASDAQ:RMBS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Rambus, Inc. (NASDAQ:RMBS) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $130.4286.

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities increased their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Jefferies Financial Group increased their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Finally, Wells Fargo & Company increased their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th.

Rambus Trading Down 0.6%

Shares of Rambus stock opened at $140.35 on Tuesday. Rambus has a 12-month low of $58.82 and a 12-month high of $174.10. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 66.83 and a beta of 1.84. The company’s 50-day moving average price is $136.03 and its 200-day moving average price is $111.92.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (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 for the quarter, compared to the consensus estimate of $179.94 million. On average, sell-side analysts predict that Rambus will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the sale, the director directly owned 19,218 shares in the company, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,850 shares of company stock valued at $11,649,796 over the last three months. Corporate insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acumen Wealth Advisors LLC purchased a new stake in Rambus in the fourth quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in Rambus in the fourth quarter valued at approximately $26,000. Spire Wealth Management raised its stake in Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Rambus in the fourth quarter valued at approximately $28,000. Finally, Western Wealth Management LLC purchased a new stake in Rambus in the first quarter valued at approximately $44,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.