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

Shares of Rambus, Inc. (NASDAQ:RMBS) have been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $130.4286.

Several research analysts recently commented on RMBS shares. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Evercore reiterated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Rosenblatt Securities lifted their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group lifted their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th.

Rambus Trading Down 0.8%

Rambus stock opened at $169.35 on Friday. The company has a market capitalization of $18.31 billion, a P/E ratio of 80.64 and a beta of 1.84. The firm’s fifty day simple moving average is $124.19 and its 200-day simple moving average is $107.72. Rambus has a 1-year low of $56.21 and a 1-year high of $174.10.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results 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. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. On average, equities research analysts predict that Rambus will post 2.44 earnings per share for the current year.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 79,850 shares of company stock worth $11,649,796. Corporate insiders own 0.75% of the company’s stock.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC grew its position in Rambus by 45.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 157,450 shares of the semiconductor company’s stock worth $13,545,000 after purchasing an additional 49,021 shares during the last quarter. Argent Capital Management LLC grew its position in Rambus by 56.2% in the 1st quarter. Argent Capital Management LLC now owns 10,001 shares of the semiconductor company’s stock worth $860,000 after purchasing an additional 3,598 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Rambus in the 1st quarter worth $44,000. Cim Investment Management Inc. acquired a new stake in Rambus in the 1st quarter worth $350,000. Finally, Bank of America Corp DE grew its position in Rambus by 9.0% in the 1st quarter. Bank of America Corp DE now owns 1,361,570 shares of the semiconductor company’s stock worth $117,136,000 after purchasing an additional 111,928 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.