Rambus, Inc. (NASDAQ:RMBS) Given Average Recommendation of “Buy” by Brokerages

Shares of Rambus, Inc. (NASDAQ:RMBS) have earned a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $108.1429.

RMBS has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, October 28th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Evercore ISI raised their price target on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their price target on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, William Blair initiated coverage on Rambus in a report on Thursday, January 22nd. They set an “outperform” rating on the stock.

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the sale, the director directly owned 24,394 shares in the company, valued at $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. bought a new position in Rambus during the third quarter worth $25,000. Abound Wealth Management bought a new position in shares of Rambus in the 3rd quarter worth about $28,000. Torren Management LLC acquired a new position in shares of Rambus in the 4th quarter valued at about $26,000. Spire Wealth Management boosted its position in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. Finally, True Wealth Design LLC grew its stake in Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 6.4%

RMBS opened at $113.83 on Friday. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 53.95 and a beta of 1.51. Rambus has a twelve month low of $40.12 and a twelve month high of $135.75. The company has a 50-day simple moving average of $100.64 and a 200 day simple moving average of $92.01.

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.