Analysts Set Rambus Inc. (NASDAQ:RMBS) Target Price at $76.71

Rambus Inc. (NASDAQ:RMBS) has earned a consensus rating of “Buy” from the eight research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $76.71.

Several equities analysts have recently commented on the stock. Evercore ISI began coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Rambus Price Performance

NASDAQ RMBS opened at $52.29 on Friday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 31.50 and a beta of 1.25. Rambus has a 12 month low of $37.43 and a 12 month high of $69.15. The company’s fifty day moving average price is $58.95 and its two-hundred day moving average price is $53.68.

Insider Activity at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the transaction, the chief executive officer now owns 306,931 shares in the company, valued at approximately $17,998,433.84. This represents a 3.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,952 shares of company stock worth $4,992,255 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its position in Rambus by 69.5% during the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock worth $701,000 after acquiring an additional 6,814 shares during the period. Quantbot Technologies LP acquired a new stake in Rambus in the third quarter worth about $1,252,000. Bridgewater Associates LP grew its position in Rambus by 1,150.7% in the 3rd quarter. Bridgewater Associates LP now owns 61,148 shares of the semiconductor company’s stock valued at $2,582,000 after buying an additional 56,259 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Rambus by 20.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 184,100 shares of the semiconductor company’s stock valued at $7,773,000 after buying an additional 31,490 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rambus by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,425 shares of the semiconductor company’s stock worth $10,320,000 after buying an additional 4,178 shares in the last quarter. 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.