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

Rambus Inc. (NASDAQ:RMBS) has earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $74.67.

RMBS has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Loop Capital began coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective for the company. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock.

Rambus Trading Down 2.2 %

NASDAQ:RMBS opened at $53.62 on Friday. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38. The stock’s 50 day simple moving average is $52.30 and its 200-day simple moving average is $50.49. The firm has a market cap of $5.71 billion, a P/E ratio of 33.30 and a beta of 1.22.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp raised its position in shares of Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. boosted its holdings in Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rambus during the second quarter valued at about $87,000. Finally, GAMMA Investing LLC increased its stake in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 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.