Rambus Inc. (NASDAQ:RMBS) Receives $73.20 Consensus Price Target from Analysts

Shares of Rambus Inc. (NASDAQ:RMBS) have been assigned a consensus rating of “Buy” from the four research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $73.20.

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

Rambus Trading Up 4.3 %

Shares of RMBS stock opened at $62.33 on Tuesday. Rambus has a 12-month low of $43.58 and a 12-month high of $76.38. The firm’s 50 day moving average is $60.35 and its 200 day moving average is $62.44. The stock has a market capitalization of $6.77 billion, a P/E ratio of 20.78 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. As a group, equities analysts predict that Rambus will post 1.63 earnings per share for the current year.

Insider Activity at Rambus

In related news, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the transaction, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Rambus news, SVP John Shinn sold 3,928 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the sale, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now owns 304,755 shares in the company, valued at approximately $18,946,618.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,554 shares of company stock worth $7,083,908. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

Several hedge funds have recently bought and sold shares of RMBS. Rise Advisors LLC bought a new stake in shares of Rambus in the 1st quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Rambus in the 4th quarter worth about $232,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Rambus in the 4th quarter worth about $10,260,000. Wellington Management Group LLP grew its holdings in Rambus by 120.4% during 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 purchasing an additional 2,149,396 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Rambus by 18.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 858,444 shares of the semiconductor company’s stock valued at $58,589,000 after purchasing an additional 133,304 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.