Rambus Inc. (NASDAQ:RMBS) Receives $77.75 Average PT from Brokerages

Shares of Rambus Inc. (NASDAQ:RMBS) have been assigned a consensus rating of “Buy” from the four analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $77.75.

RMBS has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total value of $324,389.80. Following the transaction, the chief executive officer now directly owns 262,791 shares in the company, valued at $15,415,320.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Desmond Lynch sold 7,837 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 5,530 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the transaction, the chief executive officer now owns 262,791 shares in the company, valued at approximately $15,415,320.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Rambus

A number of institutional investors have recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Rambus during the 1st quarter worth approximately $28,000. Blue Trust Inc. lifted its stake in Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Rambus in the 3rd quarter valued at $39,000. Finally, GAMMA Investing LLC bought a new position in shares of Rambus in the 4th quarter valued at $66,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Performance

Rambus stock opened at $56.95 on Friday. The stock has a 50-day simple moving average of $59.89 and a 200 day simple moving average of $62.47. The stock has a market capitalization of $6.14 billion, a P/E ratio of 17.42 and a beta of 1.18. Rambus has a 52 week low of $46.89 and a 52 week high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). Rambus had a net margin of 78.14% and a return on equity of 16.99%. The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts forecast that Rambus will post 1.63 earnings per share for the current year.

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.