Rambus Inc. (NASDAQ:RMBS) Receives Average Rating of “Buy” from Analysts

Rambus Inc. (NASDAQ:RMBS) has earned an average rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $74.67.

RMBS has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Wells Fargo & Company began coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target for the company. Finally, Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock.

Rambus Price Performance

Shares of RMBS stock opened at $56.05 on Tuesday. The company has a fifty day moving average price of $55.74 and a two-hundred day moving average price of $50.29. Rambus has a one year low of $37.42 and a one year high of $76.38. The stock has a market cap of $5.97 billion, a P/E ratio of 34.81 and a beta of 1.23.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, 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 at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently made changes to their positions in RMBS. Assenagon Asset Management S.A. raised its holdings in Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after acquiring an additional 978,417 shares in the last quarter. AQR Capital Management LLC raised its stake in Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after purchasing an additional 486,078 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Rambus during the third quarter worth about $18,984,000. American Century Companies Inc. grew its stake in Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after buying an additional 410,332 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after buying an additional 357,160 shares during the period. 88.54% of the stock is currently 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.