Rambus (NASDAQ:RMBS) Trading Up 7.3% – Still a Buy?

Shares of Rambus Inc. (NASDAQ:RMBS) were up 7.3% during trading on Tuesday . The stock traded as high as $67.34 and last traded at $67.55. Approximately 613,565 shares traded hands during trading, a decline of 39% from the average daily volume of 1,003,868 shares. The stock had previously closed at $62.96.

Analysts Set New Price Targets

Several analysts have recently commented on RMBS shares. Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Loop Capital started coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Wells Fargo & Company increased their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Susquehanna increased their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird started coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus target price of $77.29.

Rambus Price Performance

The firm has a 50 day simple moving average of $59.58 and a two-hundred day simple moving average of $51.17. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 39.13 and a beta of 1.26.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at approximately $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,360 shares of company stock valued at $4,182,809. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rambus

Hedge funds have recently modified their holdings of the business. Creative Planning raised its position in Rambus by 40.7% in the 3rd quarter. Creative Planning now owns 37,267 shares of the semiconductor company’s stock valued at $1,573,000 after buying an additional 10,772 shares during the last quarter. Blue Trust Inc. raised its position in Rambus by 255.9% in the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after buying an additional 2,920 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Rambus by 123.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 36,003 shares of the semiconductor company’s stock valued at $1,520,000 after purchasing an additional 19,903 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Rambus by 58.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,056 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 3,724 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after purchasing an additional 978,417 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

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.