Rambus Inc. (NASDAQ:RMBS) Receives $76.71 Consensus Target Price from Analysts

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

RMBS has been the topic of several recent analyst reports. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Rosenblatt Securities increased their target price on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Rambus Price Performance

NASDAQ:RMBS opened at $51.55 on Wednesday. The firm has a market capitalization of $5.51 billion, a PE ratio of 31.05 and a beta of 1.25. The business’s fifty day moving average price is $59.71 and its 200 day moving average price is $52.27. Rambus has a 12 month low of $37.43 and a 12 month high of $69.15.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares of the company’s stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,360 shares of company stock worth $4,182,809. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Rambus by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after buying an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock valued at $288,042,000 after purchasing an additional 4,445,146 shares during the period. Invesco Ltd. lifted its position in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after purchasing an additional 2,093,953 shares during the period. State Street Corp lifted its position in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Rambus by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock valued at $221,186,000 after purchasing an additional 68,975 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

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.