Rambus’ (RMBS) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Rambus (NASDAQ:RMBS) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $165.00 target price on the semiconductor company’s stock.

Several other equities analysts have also issued reports on RMBS. Susquehanna restated a “neutral” rating and set a $103.00 price target (up from $100.00) on shares of Rambus in a research note on Tuesday. Glj Research set a $165.00 price objective on Rambus in a research report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Evercore reissued an “outperform” rating and set a $150.00 price objective on shares of Rambus in a report on Tuesday. Finally, Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Rambus Stock Performance

NASDAQ:RMBS opened at $90.99 on Tuesday. The firm’s 50-day moving average is $93.97 and its 200-day moving average is $107.93. Rambus has a 52-week low of $77.89 and a 52-week high of $174.10. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 36.41 and a beta of 1.85.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The business had revenue of $218.29 million during the quarter, compared to analyst estimates of $213.21 million. Equities analysts predict that Rambus will post 2.52 EPS for the current year.

Hedge Funds Weigh In On Rambus

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Rambus in the 2nd quarter valued at about $1,853,645,000. EdgePoint Investment Group Inc. grew its stake in shares of Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Rambus during the 2nd quarter worth approximately $161,774,000. Swedbank AB grew its stake in shares of Rambus by 14.7% during the 1st quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company’s stock worth $134,465,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Rambus in the second quarter valued at approximately $109,940,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.