Rambus, Inc. (NASDAQ:RMBS) Receives $130.43 Consensus Target Price from Brokerages

Rambus, Inc. (NASDAQ:RMBS) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $130.4286.

A number of analysts have recently weighed in on RMBS shares. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, William Blair started coverage on Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company.

Rambus Trading Up 2.1%

RMBS opened at $129.24 on Monday. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 61.54 and a beta of 1.79. Rambus has a 12 month low of $50.89 and a 12 month high of $161.80. The stock has a fifty day moving average price of $104.61 and a 200-day moving average price of $102.25.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, equities research analysts forecast that Rambus will post 2.44 EPS for the current year.

Insider Buying and Selling

In related news, Director Meera Rao sold 8,538 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $118.08, for a total value of $1,008,167.04. Following the completion of the transaction, the director owned 22,946 shares in the company, valued at $2,709,463.68. This trade represents a 27.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,123 shares of company stock worth $6,295,577 in the last 90 days. Insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Invesco Ltd. raised its stake in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after acquiring an additional 1,716,621 shares during the last quarter. Norges Bank purchased a new position in Rambus in the 4th quarter worth $156,356,000. Alliancebernstein L.P. raised its stake in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after acquiring an additional 1,551,159 shares during the last quarter. Bank of America Corp DE raised its stake in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.