Brokerages Set Rambus, Inc. (NASDAQ:RMBS) PT at $105.71

Rambus, Inc. (NASDAQ:RMBS) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $105.7143.

RMBS has been the subject of a number of recent analyst reports. Susquehanna decreased their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. Finally, William Blair initiated coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company.

Rambus Stock Down 3.1%

NASDAQ RMBS opened at $91.70 on Friday. Rambus has a 52 week low of $40.12 and a 52 week high of $135.75. The firm has a 50 day moving average of $101.96 and a two-hundred day moving average of $98.54. The stock has a market capitalization of $9.92 billion, a PE ratio of 43.46 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, equities research analysts expect that Rambus will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the transaction, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Desmond Lynch sold 4,273 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares in the company, valued at $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Rambus

Hedge funds have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new stake in Rambus in the third quarter valued at approximately $1,094,000. Nordea Investment Management AB boosted its holdings in shares of Rambus by 101.7% in the third quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company’s stock valued at $14,669,000 after acquiring an additional 70,314 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of Rambus during the third quarter worth approximately $1,149,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after acquiring an additional 120,549 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in shares of Rambus by 3.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 477,359 shares of the semiconductor company’s stock valued at $30,561,000 after acquiring an additional 16,921 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.