Analysts Set Rambus, Inc. (NASDAQ:RMBS) PT at $139.78

Shares of Rambus, Inc. (NASDAQ:RMBS) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $139.7778.

Several brokerages have issued reports on RMBS. Jefferies Financial Group upped their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th.

Insider Buying and Selling

In related news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 62,914 shares of company stock worth $9,724,775. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RMBS. BlackRock Inc. bought a new stake in shares of Rambus in the 2nd quarter valued at $1,853,645,000. Price T Rowe Associates Inc. MD raised its stake in Rambus by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after buying an additional 140,226 shares during the last quarter. Invesco Ltd. raised its stake in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Rambus by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after buying an additional 94,214 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after buying an additional 541,056 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 6.9%

Rambus stock opened at $93.71 on Wednesday. The stock has a 50-day moving average price of $111.17 and a two-hundred day moving average price of $113.08. Rambus has a 12 month low of $67.15 and a 12 month high of $174.10. The company has a market capitalization of $10.16 billion, a PE ratio of 42.99 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts predict that Rambus will post 2.52 earnings per share for the current fiscal year.

Rambus Company Profile

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.