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

Shares of Rambus, Inc. (NASDAQ:RMBS) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $108.1429.

RMBS has been the topic of a number of recent research reports. Susquehanna set a $100.00 price objective on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Evercore ISI boosted their price target on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Wells Fargo & Company upped their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Arete Research raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Thursday, August 28th.

Insider Activity

In other news, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares in the company, valued at $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the sale, the director directly owned 24,394 shares in the company, valued at approximately $2,496,725.90. The trade was a 17.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,227 shares of company stock valued at $2,499,780. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Rambus in the third quarter worth $25,000. True Wealth Design LLC grew its holdings in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 260 shares in the last quarter. Abound Wealth Management bought a new stake in shares of Rambus in the 3rd quarter worth about $28,000. Bessemer Group Inc. raised its stake in shares of Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 596 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Up 0.6%

RMBS stock opened at $104.71 on Friday. Rambus has a 52-week low of $40.12 and a 52-week high of $114.55. The stock’s fifty day simple moving average is $99.18 and its 200-day simple moving average is $81.40. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 49.63 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate 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 company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, analysts anticipate that Rambus will post 1.89 earnings per share for the current fiscal year.

Rambus Company Profile

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.