Rambus Inc. (NASDAQ:RMBS) Given Consensus Rating of “Buy” by Analysts

Rambus Inc. (NASDAQ:RMBS) has earned a consensus rating of “Buy” from the four ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $77.75.

RMBS has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company increased their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th.

Insider Activity

In other news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the sale, the chief operating officer now directly owns 121,229 shares in the company, valued at approximately $6,667,595. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total value of $932,550.00. Following the completion of the sale, the chief executive officer now directly owns 304,755 shares in the company, valued at approximately $18,946,618.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the sale, the chief operating officer now owns 121,229 shares of the company’s stock, valued at $6,667,595. The disclosure for this sale can be found here. Insiders sold a total of 126,492 shares of company stock worth $7,716,283 in the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Rambus by 14.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after acquiring an additional 616,670 shares in the last quarter. Wellington Management Group LLP lifted its position in Rambus by 120.4% in the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after acquiring an additional 2,149,396 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Rambus by 19.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after acquiring an additional 515,657 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Rambus by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock valued at $142,645,000 after acquiring an additional 132,939 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Rambus by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock valued at $84,537,000 after acquiring an additional 5,856 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 0.7 %

NASDAQ RMBS opened at $55.97 on Friday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 17.12 and a beta of 1.18. Rambus has a twelve month low of $46.89 and a twelve month high of $76.38. The stock has a fifty day simple moving average of $59.84 and a 200 day simple moving average of $62.44.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that Rambus will post 1.63 earnings per share for the current fiscal year.

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.