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

Rambus (NASDAQ:RMBSGet Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $85.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price target indicates a potential upside of 58.52% from the company’s current price.

Separately, Wells Fargo & Company raised their price target on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Check Out Our Latest Research Report on Rambus

Rambus Stock Performance

RMBS stock opened at $53.62 on Tuesday. The firm has a market cap of $5.76 billion, a PE ratio of 17.87 and a beta of 1.22. The firm’s fifty day moving average is $67.92 and its 200 day moving average is $61.04. Rambus has a one year low of $40.48 and a one year high of $76.38.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 2,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.91, for a total transaction of $133,820.00. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at $519,288.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Steven Laub sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $66.91, for a total value of $133,820.00. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at $519,288.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Desmond Lynch sold 1,527 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.64, for a total transaction of $98,705.28. Following the completion of the transaction, the chief financial officer now directly owns 64,198 shares in the company, valued at $4,149,758.72. The disclosure for this sale can be found here. Insiders have sold a total of 20,431 shares of company stock valued at $1,354,106 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently modified their holdings of RMBS. Hollencrest Capital Management purchased a new position in shares of Rambus in the first quarter worth about $28,000. Blue Trust Inc. increased its position in Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Rambus during the fourth quarter worth about $33,000. Fifth Third Bancorp increased its position in Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Rambus during the third quarter worth about $39,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

About Rambus

(Get Free Report)

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.

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