Rambus (NASDAQ:RMBS) Sets New 12-Month High Following Analyst Upgrade

Rambus, Inc. (NASDAQ:RMBS) reached a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from $69.00 to $75.00. Jefferies Financial Group currently has a buy rating on the stock. Rambus traded as high as $71.36 and last traded at $70.61, with a volume of 762630 shares. The stock had previously closed at $64.24.

RMBS has been the topic of a number of other research reports. Rosenblatt Securities boosted their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen upgraded Rambus from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 18th. Finally, Susquehanna boosted their price objective on Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $77.71.

Insider Buying and Selling at Rambus

In related news, Director Steven Laub sold 1,847 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, the director owned 9,057 shares of the company’s stock, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Rambus

Institutional investors have recently modified their holdings of the business. First Citizens Bank & Trust Co. lifted its holdings in Rambus by 250.9% in the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after buying an additional 9,718 shares during the period. Ethic Inc. acquired a new position in shares of Rambus in the 2nd quarter valued at about $258,000. Stephens Investment Management Group LLC lifted its stake in shares of Rambus by 0.8% in the 2nd quarter. Stephens Investment Management Group LLC now owns 195,123 shares of the semiconductor company’s stock valued at $12,492,000 after purchasing an additional 1,462 shares during the period. Aurora Investment Counsel acquired a new position in shares of Rambus in the 2nd quarter valued at about $1,492,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Rambus in the 2nd quarter valued at about $830,000. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

The company has a market capitalization of $8.07 billion, a price-to-earnings ratio of 35.42 and a beta of 1.24. The business has a 50 day moving average price of $61.82 and a 200-day moving average price of $57.56.

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.