Rambus, Inc. (NASDAQ:RMBS) Receives $134.75 Average Target Price from Analysts

Rambus, Inc. (NASDAQ:RMBS) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $134.75.

RMBS has been the subject of a number of recent analyst reports. Benchmark assumed coverage on shares of Rambus in a report on Wednesday, July 15th. They issued a “buy” rating and a $165.00 price objective for the company. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, April 28th. Evercore reissued an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Rosenblatt Securities raised their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,914 shares of company stock worth $9,724,775. Company insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD increased its stake in shares of Rambus by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after purchasing an additional 140,226 shares in the last quarter. Invesco Ltd. lifted its stake in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC lifted its stake in Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after buying an additional 94,214 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Rambus by 38.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after buying an additional 541,056 shares during the last quarter. Finally, Norges Bank acquired a new stake in Rambus in the 4th quarter worth about $156,356,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $96.01 on Friday. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 45.72 and a beta of 1.84. The firm’s 50 day simple moving average is $128.78 and its 200-day simple moving average is $114.28. Rambus has a 12 month low of $62.81 and a 12 month high of $174.10.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Analysts anticipate that Rambus will post 2.44 earnings per share for the current fiscal year.

Rambus Company Profile

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.