Rambus (NASDAQ:RMBS) Hits New 1-Year High – What’s Next?

Rambus, Inc. (NASDAQ:RMBS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $118.00 and last traded at $115.9450, with a volume of 54590 shares. The stock had previously closed at $110.10.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Evercore ISI raised their price objective on shares of Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Susquehanna set a $100.00 price objective on shares of Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average target price of $108.14.

Rambus Price Performance

The stock has a fifty day moving average price of $96.21 and a two-hundred day moving average price of $89.29. The company has a market cap of $13.70 billion, a P/E ratio of 60.14 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The company had revenue of $178.51 million during the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. Equities analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rambus news, Director Eric B. Stang sold 4,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the transaction, the director owned 20,394 shares of the company’s stock, valued at approximately $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its holdings in shares of Rambus by 8.2% in the 3rd quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after purchasing an additional 121 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Rambus by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock valued at $594,000 after buying an additional 125 shares during the last quarter. Tealwood Asset Management Inc. grew its stake in shares of Rambus by 0.7% during the 2nd quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock worth $1,310,000 after acquiring an additional 150 shares during the period. GAMMA Investing LLC increased its holdings in Rambus by 3.3% in the 4th quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 153 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Rambus by 14.8% during the second quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 166 shares during the last quarter. 88.54% of the stock is currently 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.