Wall Street Zen Upgrades Rambus (NASDAQ:RMBS) to “Buy”

Rambus (NASDAQ:RMBS) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on RMBS. Evercore restated an “outperform” rating and issued a $150.00 price objective on shares of Rambus in a research report on Tuesday. Zacks Research upgraded Rambus from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, UBS Group set a $165.00 price objective on shares of Rambus in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $84.65 on Friday. The firm has a market capitalization of $9.07 billion, a PE ratio of 34.84 and a beta of 1.85. Rambus has a 52-week low of $77.89 and a 52-week high of $174.10. The firm has a fifty day moving average of $93.82 and a 200 day moving average of $107.89.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $218.29 million for the quarter, compared to analysts’ expectations of $213.21 million. Rambus had a net margin of 33.40% and a return on equity of 19.43%. On average, sell-side analysts forecast that Rambus will post 2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMBS. Danske Bank A S purchased a new stake in Rambus in the second quarter worth about $27,000. Provenance Wealth Advisors LLC bought a new stake in shares of Rambus in the 3rd quarter worth approximately $29,000. City State Bank purchased a new stake in shares of Rambus in the 3rd quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Rambus during the 2nd quarter valued at approximately $41,000. Finally, PenderFund Capital Management Ltd. bought a new position in Rambus during the 2nd quarter valued at approximately $46,000. 88.54% of the stock is currently owned by institutional investors.

About Rambus

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.