Analysts Set Rambus, Inc. (NASDAQ:RMBS) Price Target at $105.71

Rambus, Inc. (NASDAQ:RMBS) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $105.7143.

A number of brokerages have recently issued reports on RMBS. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Susquehanna cut their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Rambus in a research report on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a report on Monday, January 26th. Finally, Evercore cut their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd.

Rambus Price Performance

NASDAQ:RMBS opened at $102.64 on Wednesday. Rambus has a 1-year low of $40.12 and a 1-year high of $135.75. The company has a 50-day moving average of $102.10 and a 200 day moving average of $95.60. The firm has a market cap of $11.06 billion, a PE ratio of 48.64 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. Sell-side analysts anticipate that Rambus will post 1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Rambus

Large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of 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 purchasing an additional 1,716,621 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Rambus by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 6,538 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 133 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Rambus by 17.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,145 shares of the semiconductor company’s stock worth $840,000 after acquiring an additional 1,386 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Rambus by 15.7% during the fourth quarter. Vident Advisory LLC now owns 66,071 shares of the semiconductor company’s stock valued at $6,071,000 after acquiring an additional 8,984 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Rambus by 31.2% in the 4th quarter. Mackenzie Financial Corp now owns 24,149 shares of the semiconductor company’s stock valued at $2,282,000 after purchasing an additional 5,736 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

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.