Rambus Inc. (NASDAQ:RMBS) Receives $75.00 Average Target Price from Analysts

Rambus Inc. (NASDAQ:RMBS) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $75.00.

Several research analysts have weighed in on RMBS shares. Susquehanna raised their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Wall Street Zen lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Monday, May 19th. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th.

Rambus Trading Down 1.9%

RMBS opened at $53.48 on Monday. The company has a fifty day simple moving average of $51.11 and a 200 day simple moving average of $55.48. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 32.22 and a beta of 1.24. Rambus has a twelve month low of $37.43 and a twelve month high of $69.15.

Insider Transactions at Rambus

In other news, Director Steven Laub sold 3,653 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now directly owns 10,904 shares in the company, valued at approximately $605,826.24. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the transaction, the chief executive officer now owns 306,931 shares in the company, valued at approximately $17,998,433.84. The trade was a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,001 shares of company stock worth $3,080,226. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of Rambus in the 1st quarter worth about $218,000. Intech Investment Management LLC lifted its position in shares of Rambus by 39.2% in the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company’s stock worth $4,166,000 after buying an additional 22,677 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after buying an additional 19,120 shares during the last quarter. McIlrath & Eck LLC bought a new stake in Rambus in the 1st quarter valued at about $42,000. Finally, Empowered Funds LLC lifted its position in Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock valued at $1,178,000 after purchasing an additional 5,783 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

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.