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

Shares of Rambus Inc. (NASDAQ:RMBS) have been given a consensus recommendation of “Buy” by the four analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $73.20.

Several equities analysts recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company increased their price objective on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the sale, the chief executive officer now owns 304,755 shares in the company, valued at $18,946,618.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the transaction, the chief executive officer now directly owns 304,755 shares in the company, valued at $18,946,618.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the sale, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,554 shares of company stock worth $7,083,908. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in shares of Rambus in the 1st quarter valued at about $230,000. Cambridge Investment Research Advisors Inc. boosted its stake in Rambus by 78.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock valued at $518,000 after acquiring an additional 7,142 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Rambus by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company’s stock worth $1,894,000 after acquiring an additional 21,446 shares during the period. BlackRock Inc. raised its position in shares of Rambus by 0.3% during the 1st quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock valued at $548,492,000 after acquiring an additional 47,422 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new position in shares of Rambus in the 1st quarter valued at $575,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

NASDAQ:RMBS opened at $59.00 on Tuesday. The firm’s 50-day moving average is $59.87 and its 200-day moving average is $62.63. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 19.67 and a beta of 1.16. Rambus has a 52-week low of $43.58 and a 52-week high of $76.38.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. Equities analysts predict that Rambus will post 1.63 EPS for the current year.

Rambus Company Profile

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.