Rosenblatt Securities Reaffirms “Buy” Rating for Rambus (NASDAQ:RMBS)

Rambus (NASDAQ:RMBS)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $73.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ price target points to a potential upside of 28.48% from the company’s previous close.

A number of other brokerages have also recently commented on RMBS. Susquehanna raised their price objective on Rambus from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Friday, July 21st. TheStreet upgraded shares of Rambus from a “c+” rating to a “b+” rating in a research note on Monday, July 31st. StockNews.com began coverage on shares of Rambus in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group lifted their price target on Rambus from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Rambus Stock Up 2.3 %

RMBS stock opened at $56.82 on Tuesday. The company’s fifty day simple moving average is $56.67 and its 200 day simple moving average is $54.47. Rambus has a 12-month low of $23.84 and a 12-month high of $68.54. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.68 and a beta of 1.30.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 31st. The semiconductor company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $1.12. The company had revenue of $119.80 million for the quarter, compared to the consensus estimate of $137.99 million. Rambus had a net margin of 40.38% and a return on equity of 20.86%. Rambus’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. Research analysts expect that Rambus will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Xianzhi Sean Fan sold 17,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $54.99, for a total value of $951,821.91. Following the completion of the transaction, the chief operating officer now directly owns 168,223 shares of the company’s stock, valued at $9,250,582.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in shares of Rambus during the 1st quarter worth $28,000. WealthPLAN Partners LLC bought a new stake in Rambus in the first quarter worth about $31,000. Parallel Advisors LLC boosted its stake in Rambus by 106.4% in the first quarter. Parallel Advisors LLC now owns 642 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 331 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Rambus in the fourth quarter valued at about $33,000. Finally, Orion Capital Management LLC bought a new position in shares of Rambus during the 1st quarter valued at approximately $36,000. Institutional investors own 86.15% of the company’s stock.

About Rambus

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.