Rambus Inc. (NASDAQ:RMBS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Rambus Inc. (NASDAQ:RMBS) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $76.71.

A number of equities analysts have recently weighed in on RMBS shares. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Evercore ISI started coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. Finally, StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Rambus Stock Down 6.5 %

RMBS opened at $43.13 on Friday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 25.98 and a beta of 1.25. The stock has a fifty day moving average of $57.96 and a 200-day moving average of $53.74. Rambus has a 12-month low of $37.43 and a 12-month high of $69.15.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,952 shares of company stock valued at $5,501,055. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its stake in Rambus by 134.7% in the first quarter. Moody National Bank Trust Division now owns 9,030 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 5,182 shares in the last quarter. Versant Capital Management Inc increased its position in Rambus by 112.9% in the 1st quarter. Versant Capital Management Inc now owns 1,507 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 799 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Rambus during the fourth quarter worth approximately $232,000. Orion Capital Management LLC acquired a new stake in shares of Rambus in the fourth quarter valued at approximately $37,000. Finally, Castleark Management LLC acquired a new position in Rambus during the 4th quarter worth $7,395,000. 88.54% of the stock is 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.