Rambus (NASDAQ:RMBS) Trading Up 7.4% – Should You Buy?

Rambus, Inc. (NASDAQ:RMBS)’s share price traded up 7.4% during mid-day trading on Monday . The stock traded as high as $92.24 and last traded at $94.0950. 518,624 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,625,153 shares. The stock had previously closed at $87.60.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMBS. Rosenblatt Securities reiterated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.88.

Rambus Price Performance

The stock’s 50 day moving average is $92.74 and its 200-day moving average is $110.53. The company has a market capitalization of $11.41 billion, a P/E ratio of 48.28 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities research analysts anticipate that Rambus, Inc. will post 2.52 EPS for the current year.

Hedge Funds Weigh In On Rambus

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Rambus during the 2nd quarter valued at $1,853,645,000. Geode Capital Management LLC increased its stake in shares of Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after acquiring an additional 94,214 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after acquiring an additional 541,056 shares during the period. Bank of America Corp DE purchased a new position in Rambus during the 2nd quarter valued at about $161,774,000. Finally, Norges Bank purchased a new position in Rambus during the 4th quarter valued at about $156,356,000. Institutional investors own 88.54% of the company’s stock.

About Rambus

Rambus Inc (NASDAQ: RMBS) is a technology company that develops semiconductor and intellectual property solutions for the data-intensive computing market. Its business focuses on improving the performance, capacity, security and energy efficiency of memory and other components used in data centers, personal computers, networking equipment and other electronic systems.

The company offers memory interface chips and related products, including registered clock drivers, memory interface chips and power-management solutions designed for high-performance memory modules.