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

Shares of Rambus, Inc. (NASDAQ:RMBS) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $105.7143.

Several research firms recently commented on RMBS. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. William Blair began coverage on shares of Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Evercore decreased their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Finally, Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th.

Rambus Stock Performance

RMBS opened at $98.57 on Wednesday. Rambus has a 1 year low of $40.12 and a 1 year high of $135.75. The company’s 50 day simple moving average is $102.17 and its 200 day simple moving average is $96.27. The stock has a market capitalization of $10.62 billion, a PE ratio of 46.72 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The company had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. As a group, sell-side analysts expect that Rambus will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Hedge funds have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new position in shares of Rambus in the third quarter worth about $1,094,000. Nordea Investment Management AB increased its holdings in Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares during the last quarter. Oak Grove Capital LLC purchased a new stake in Rambus during the 2nd quarter worth approximately $519,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after purchasing an additional 120,549 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Rambus during the 3rd quarter valued at approximately $1,149,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.