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

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

A number of research firms recently issued reports on RMBS. Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Evercore reissued an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Rosenblatt Securities boosted their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group boosted their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th.

Insider Buying and Selling

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the sale, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This represents a 21.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 79,850 shares of company stock valued at $11,649,796. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in RMBS. Invesco Ltd. increased its stake in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the period. Norges Bank bought a new position in Rambus during the fourth quarter valued at about $156,356,000. Alliancebernstein L.P. increased its stake in Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after acquiring an additional 1,551,159 shares during the period. Bank of America Corp DE increased its stake in Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after acquiring an additional 1,026,776 shares during the period. Finally, Bessemer Group Inc. increased its stake in Rambus by 1,009.5% during the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after acquiring an additional 946,177 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Trading Up 8.0%

Shares of RMBS stock opened at $123.90 on Tuesday. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 59.00 and a beta of 1.84. Rambus has a 1-year low of $61.16 and a 1-year high of $174.10. The stock’s fifty day simple moving average is $136.62 and its 200-day simple moving average is $112.68.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, sell-side analysts predict that Rambus will post 2.44 EPS for the current year.

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.