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

Rambus Inc. (NASDAQ:RMBS) has received a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.71.

Several analysts have recently issued reports on RMBS shares. Rosenblatt Securities upped their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company raised their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Evercore ISI initiated coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Finally, Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd.

Insider Activity at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now owns 306,931 shares in the company, valued at $17,998,433.84. This represents a 3.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,952 shares of company stock worth $4,992,255. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after buying an additional 4,445,146 shares in the last quarter. Invesco Ltd. increased its position in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. Norges Bank acquired a new position in shares of Rambus in the fourth quarter worth about $94,368,000. Raymond James Financial Inc. purchased a new position in Rambus in the fourth quarter valued at about $51,500,000. Finally, Congress Asset Management Co. purchased a new position in Rambus in the fourth quarter valued at about $45,778,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of Rambus stock opened at $52.29 on Friday. Rambus has a 1 year low of $37.43 and a 1 year high of $69.15. The business has a 50 day moving average price of $58.95 and a 200 day moving average price of $53.68. The company has a market capitalization of $5.62 billion, a P/E ratio of 31.50 and a beta of 1.25.

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.