Brokerages Set Rambus Inc. (NASDAQ:RMBS) Target Price at $76.71

Shares of Rambus Inc. (NASDAQ:RMBS) have received an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $76.71.

Several research firms have weighed in on RMBS. Wells Fargo & Company increased their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Finally, Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th.

Rambus Stock Performance

Shares of RMBS stock opened at $43.13 on Friday. The firm’s 50 day moving average price is $57.96 and its two-hundred day moving average price is $53.74. The stock has a market cap of $4.63 billion, a PE ratio of 25.98 and a beta of 1.25. Rambus has a 52-week low of $37.43 and a 52-week high of $69.15.

Insider Buying and Selling at Rambus

In other news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92 % 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 company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $50.88, for a total transaction of $508,800.00. Following the sale, the chief executive officer now directly owns 346,844 shares in the company, valued at $17,647,422.72. This trade represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,952 shares of company stock worth $5,501,055. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. SG Americas Securities LLC raised its stake in Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after buying an additional 520,754 shares during the period. World Investment Advisors LLC bought a new position in Rambus during the third quarter worth $989,000. Campbell Newman Asset Management Inc. increased its holdings in shares of Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock valued at $2,064,000 after purchasing an additional 16,376 shares during the last quarter. Atria Investments Inc bought a new position in shares of Rambus in the fourth quarter valued at about $336,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Rambus by 28.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock worth $682,000 after buying an additional 2,853 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

About Rambus

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.