Rambus (NASDAQ:RMBS) Stock Bumped Up to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks reports.

RMBS has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Evercore reaffirmed an “outperform” rating and set a $150.00 price target on shares of Rambus in a research note on Tuesday. Glj Research set a $165.00 price target on Rambus in a research note on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, UBS Group set a $165.00 price objective on Rambus in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Rambus Stock Down 0.0%

Shares of NASDAQ RMBS opened at $90.99 on Wednesday. The firm has a market cap of $9.75 billion, a PE ratio of 37.44 and a beta of 1.85. Rambus has a 12-month low of $77.89 and a 12-month high of $174.10. The company’s fifty day simple moving average is $93.97 and its 200 day simple moving average is $107.93.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The firm had revenue of $218.29 million during the quarter, compared to the consensus estimate of $213.21 million. On average, equities analysts predict that Rambus will post 2.52 earnings per share for the current year.

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in RMBS. Balefire LLC lifted its holdings in Rambus by 3.8% during the first quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock worth $252,000 after acquiring an additional 108 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Rambus by 0.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 22,483 shares of the semiconductor company’s stock valued at $2,400,000 after purchasing an additional 114 shares during the period. North Dakota State Investment Board increased its position in shares of Rambus by 3.9% during the 3rd quarter. North Dakota State Investment Board now owns 3,293 shares of the semiconductor company’s stock valued at $352,000 after purchasing an additional 124 shares during the last quarter. Allworth Financial LP increased its position in shares of Rambus by 8.8% during the 2nd quarter. Allworth Financial LP now owns 1,847 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 150 shares during the last quarter. Finally, Danske Bank A S bought a new stake in shares of Rambus during the 2nd quarter worth $27,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Rambus

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.