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

Rambus Inc. (NASDAQ:RMBS) has earned a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $74.67.

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

Insider Activity

In other Rambus news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in Rambus in the 2nd quarter worth $38,000. Fifth Third Bancorp raised its stake in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. lifted its position in shares of Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Rambus during the 2nd quarter valued at approximately $87,000. Finally, GAMMA Investing LLC increased its holdings in 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $54.68 on Friday. The business has a fifty day moving average price of $53.08 and a 200-day moving average price of $50.40. The company has a market capitalization of $5.83 billion, a PE ratio of 33.96 and a beta of 1.22. Rambus has a 1-year low of $37.42 and a 1-year high of $76.38.

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.