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

Shares of Rambus Inc. (NASDAQ:RMBS) have received an average rating of “Buy” from the seven analysts that are covering the firm, 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 1-year target price among brokerages that have issued ratings on the stock in the last year is $74.67.

A number of research firms have recently weighed in on RMBS. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Wells Fargo & Company initiated coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Robert W. Baird began coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Rambus during the second quarter worth $38,000. GAMMA Investing LLC raised its position in shares of Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 shares in the last quarter. MQS Management LLC acquired a new position in shares of Rambus in the 2nd quarter valued at about $226,000. Moody National Bank Trust Division acquired a new position in shares of Rambus in the 4th quarter valued at about $203,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Rambus during the 2nd quarter valued at about $240,000. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 0.3 %

NASDAQ:RMBS opened at $56.05 on Tuesday. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38. The stock’s 50-day simple moving average is $55.74 and its 200 day simple moving average is $50.29. The firm has a market capitalization of $5.97 billion, a PE ratio of 34.81 and a beta of 1.23.

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.