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

by · The Cerbat Gem

Shares of Rambus, Inc. (NASDAQ:RMBS – Get Free Report) have been given a consensus recommendation of “Buy” by the ten research firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $79.3750.

Several research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Arete Research raised shares of Rambus to a “strong-buy” rating in a research report on Thursday. Susquehanna raised their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, July 29th. Rosenblatt Securities raised their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group raised their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th.

Get Our Latest Research Report on Rambus

Rambus Price Performance

NASDAQ RMBS opened at $73.77 on Wednesday. Rambus has a 12 month low of $37.42 and a 12 month high of $81.89. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 34.80 and a beta of 1.38. The firm’s fifty day moving average price is $69.13 and its 200 day moving average price is $59.29.

Insider Buying and Selling at Rambus

In other news, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the sale, the director owned 63,371 shares of the company’s stock, valued at $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the sale, the director directly owned 38,324 shares in the company, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,686 shares of company stock worth $718,381 over the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently made changes to their positions in RMBS. Renaissance Technologies LLC purchased a new stake in shares of Rambus in the fourth quarter valued at about $201,000. Mariner LLC boosted its holdings in shares of Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 167 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Rambus by 205.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,485 shares of the semiconductor company’s stock valued at $501,000 after acquiring an additional 6,379 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Rambus in the fourth quarter valued at about $645,000. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Rambus by 6.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,609 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

(Get Free Report)

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.

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