Brokerages Set Rambus Inc. (NASDAQ:RMBS) Price Target at $73.20

Rambus Inc. (NASDAQ:RMBS) has been given a consensus rating of “Buy” by the four brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $73.20.

A number of analysts have recently issued reports on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their price objective on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares in the company, valued at approximately $6,667,595. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the transaction, the chief operating officer now directly owns 121,229 shares in the company, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders have sold 115,554 shares of company stock worth $7,083,908 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Rambus by 787.6% in the first quarter. JPMorgan Chase & Co. now owns 3,756,514 shares of the semiconductor company’s stock worth $192,560,000 after buying an additional 3,333,307 shares during the period. Wellington Management Group LLP increased its holdings in shares of Rambus by 120.4% in the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after acquiring an additional 2,149,396 shares during the period. Norges Bank bought a new stake in Rambus in the 4th quarter valued at about $84,756,000. Captrust Financial Advisors boosted its stake in Rambus by 357.1% during the 4th quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock valued at $46,188,000 after purchasing an additional 1,006,772 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Rambus by 76.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock worth $110,891,000 after purchasing an additional 861,427 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Down 1.9 %

RMBS opened at $59.00 on Tuesday. Rambus has a 52-week low of $43.58 and a 52-week high of $76.38. The company has a 50 day moving average of $59.87 and a two-hundred day moving average of $62.63. The company has a market cap of $6.41 billion, a P/E ratio of 19.67 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. Research analysts anticipate that Rambus will post 1.63 earnings per share for the current 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.