Rosenblatt Securities Reiterates “Buy” Rating for Rambus (NASDAQ:RMBS)

Rambus (NASDAQ:RMBS)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They presently have a $85.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 119.30% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Susquehanna reduced their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Trading Up 2.4 %

NASDAQ:RMBS opened at $38.76 on Tuesday. The stock has a market capitalization of $4.17 billion, a PE ratio of 11.85 and a beta of 1.19. The firm’s 50 day moving average is $51.02 and its 200 day moving average is $55.77. Rambus has a 12 month low of $37.42 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. Research analysts predict that Rambus will post 1.41 earnings per share for the current year.

Institutional Trading of Rambus

Several hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings in Rambus by 3.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after buying an additional 173 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Rambus by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock valued at $680,000 after purchasing an additional 229 shares in the last quarter. Fifth Third Bancorp grew its stake in Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the period. Retirement Systems of Alabama raised its holdings in Rambus by 0.3% in the first quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock worth $8,345,000 after purchasing an additional 356 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Rambus by 0.7% during the first quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock valued at $3,814,000 after buying an additional 423 shares during the period. 88.54% of the stock is owned by institutional investors.

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.