Rambus, Inc. (NASDAQ:RMBS) Given Average Rating of “Buy” by Analysts

Rambus, Inc. (NASDAQ:RMBS) has earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $108.1429.

RMBS has been the topic of a number of research analyst reports. Robert W. Baird boosted their target price on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research report on Tuesday, October 28th. Cfra Research downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Evercore ISI raised their target price on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Wells Fargo & Company lifted their target price on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th.

Rambus Trading Down 1.8%

NASDAQ RMBS opened at $97.50 on Tuesday. The business has a fifty day simple moving average of $97.78 and a 200 day simple moving average of $86.50. Rambus has a 12 month low of $40.12 and a 12 month high of $114.55. The firm has a market capitalization of $10.50 billion, a P/E ratio of 46.21 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.18). The firm had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Rambus will post 1.89 EPS 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 dated Monday, November 10th. The shares were sold at an average price of $111.78, for a total value of $447,120.00. Following the transaction, the director directly owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings in shares of Rambus by 1,216.0% in the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after buying an additional 63,864 shares during the last quarter. Oak Grove Capital LLC purchased a new position in Rambus in the second quarter worth $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Rambus by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock valued at $9,472,000 after acquiring an additional 17,282 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Rambus by 250.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after purchasing an additional 9,718 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Rambus by 5.1% during the second quarter. Neuberger Berman Group LLC now owns 1,348,038 shares of the semiconductor company’s stock worth $86,300,000 after purchasing an additional 65,870 shares during the last quarter. 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.