Rambus Inc. (NASDAQ:RMBS) Given Average Rating of “Buy” by Brokerages

Rambus Inc. (NASDAQ:RMBS) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $74.67.

RMBS has been the topic of several recent research reports. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Loop Capital assumed coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company began coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective on the stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $53.62 on Friday. The stock has a market capitalization of $5.71 billion, a PE ratio of 33.30 and a beta of 1.22. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The company has a fifty day moving average of $52.30 and a two-hundred day moving average of $50.49.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

A number of large investors have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rambus during the 3rd quarter worth about $2,077,000. Assenagon Asset Management S.A. increased its holdings in shares of Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after acquiring an additional 978,417 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Rambus during the 3rd quarter worth about $989,000. Finally, FORA Capital LLC lifted its stake in Rambus by 63.7% during the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock worth $1,701,000 after purchasing an additional 15,671 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Company Profile

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.