Rambus, Inc. (NASDAQ:RMBS) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Rambus, Inc. (NASDAQ:RMBS) has received an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $145.88.

A number of research firms have recently issued reports on RMBS. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Glj Research set a $165.00 price objective on Rambus in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th.

Institutional Investors Weigh In On Rambus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Rambus in the second quarter worth $1,853,645,000. Geode Capital Management LLC grew its stake in Rambus by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after acquiring an additional 541,056 shares during the last quarter. Bank of America Corp DE bought a new stake in Rambus in the second quarter worth approximately $161,774,000. Finally, Norges Bank bought a new stake in Rambus in the fourth quarter worth approximately $156,356,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 2.3%

Shares of NASDAQ RMBS opened at $111.48 on Thursday. Rambus has a 12 month low of $77.89 and a 12 month high of $174.10. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 51.14 and a beta of 1.85. The business has a fifty day simple moving average of $94.69 and a 200-day simple moving average of $111.74.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.Rambus’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. As a group, sell-side analysts expect that Rambus will post 2.52 EPS for the current fiscal year.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses high-performance chip interfaces and related intellectual property. Its technologies are designed to improve the speed, capacity, reliability and security of data transfer in memory systems and other electronic devices.

The company offers memory interface products for applications such as data centers, servers and advanced computing systems. Its portfolio includes solutions for DDR memory, high-bandwidth memory and other emerging memory architectures, as well as interface and connectivity technologies intended to support increasingly data-intensive workloads.