Analysts Set Rambus, Inc. (NASDAQ:RMBS) Target Price at $108.14

Shares of Rambus, Inc. (NASDAQ:RMBS) have been given an average rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $108.1429.

Several research analysts recently weighed in on RMBS shares. Wells Fargo & Company increased their target price on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rambus in a research note on Monday, December 1st. Arete Research upgraded Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a report on Thursday, August 28th. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 4,000 shares of Rambus stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the sale, the director owned 20,394 shares in the company, valued at $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the sale, the director directly owned 30,824 shares of the company’s stock, valued at approximately $2,639,459.12. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 26,227 shares of company stock worth $2,499,780 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rambus

Several large investors have recently modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Rambus during the third quarter valued at $25,000. True Wealth Design LLC increased its holdings in shares of Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 260 shares during the period. Abound Wealth Management bought a new stake in Rambus in the 3rd quarter valued at about $28,000. Bessemer Group Inc. boosted its stake in Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 596 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

RMBS opened at $101.60 on Friday. The stock has a market cap of $10.94 billion, a P/E ratio of 48.15 and a beta of 1.51. The stock’s 50 day simple moving average is $99.16 and its 200 day simple moving average is $80.69. Rambus has a 1-year low of $40.12 and a 1-year high of $114.55.

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