Zacks Research Upgrades Rambus (NASDAQ:RMBS) to “Strong-Buy”

Rambus (NASDAQ:RMBS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

RMBS has been the subject of a number of other research reports. UBS Group set a $165.00 target price on shares of Rambus in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Evercore reaffirmed an “outperform” rating and set a $150.00 target price on shares of Rambus in a research note on Tuesday. Susquehanna reiterated a “neutral” rating and issued a $103.00 target price (up from $100.00) on shares of Rambus in a report on Tuesday. Finally, Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Rambus Stock Down 0.0%

Shares of RMBS opened at $90.99 on Wednesday. The stock 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 business has a 50-day simple moving average of $93.97 and a two-hundred day simple moving average of $107.93.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Balefire LLC boosted its position in shares of Rambus by 3.8% during the first quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after buying an additional 108 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position 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 buying an additional 114 shares during the last quarter. North Dakota State Investment Board raised its position in Rambus by 3.9% in the 3rd quarter. North Dakota State Investment Board now owns 3,293 shares of the semiconductor company’s stock valued at $352,000 after buying an additional 124 shares during the last quarter. Allworth Financial LP lifted its stake in 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 acquiring an additional 150 shares in the last quarter. Finally, Danske Bank A S bought a new position in Rambus during the 2nd quarter valued at $27,000. 88.54% of the stock is owned by institutional investors and hedge funds.

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.