Rambus Inc. (NASDAQ:RMBS) Receives Average Rating of “Buy” from Analysts

Shares of Rambus Inc. (NASDAQ:RMBS) have received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $74.67.

RMBS has been the topic of a number of recent research reports. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Wells Fargo & Company initiated coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Finally, Loop Capital started coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company.

Rambus Stock Up 0.3 %

Shares of RMBS opened at $54.14 on Friday. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38. The stock has a market cap of $5.77 billion, a PE ratio of 33.63 and a beta of 1.22. The firm’s fifty day moving average is $52.65 and its two-hundred day moving average is $50.38.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several large investors have recently made changes to their positions in RMBS. Vaughan Nelson Investment Management L.P. increased its holdings in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after purchasing an additional 357,160 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Rambus during the third quarter worth $989,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rambus in the third quarter valued at $2,077,000. Assenagon Asset Management S.A. raised its holdings in shares of Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares during the period. Finally, FORA Capital LLC lifted its stake in Rambus by 63.7% during the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock worth $1,701,000 after acquiring an additional 15,671 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.