Rambus’ (RMBS) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Rambus (NASDAQ:RMBS) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $130.00 price target on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on RMBS. Cfra Research cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. William Blair began coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Zacks Research upgraded shares of Rambus to a “hold” rating in a report on Monday, January 26th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Wells Fargo & Company raised their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $105.71.

Rambus Trading Down 2.7%

NASDAQ RMBS opened at $98.10 on Tuesday. The stock has a fifty day simple moving average of $101.36 and a 200-day simple moving average of $93.00. The stock has a market cap of $10.56 billion, a PE ratio of 46.49 and a beta of 1.53. Rambus has a twelve month low of $40.12 and a twelve month high of $135.75.

Insider Buying and Selling at Rambus

In other news, Director Eric B. Stang sold 4,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the sale, the director directly owned 20,394 shares in the company, valued at approximately $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Large investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new stake in Rambus in the third quarter valued at $1,094,000. Nordea Investment Management AB grew its stake in shares of Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares during the period. Oak Grove Capital LLC purchased a new position in shares of Rambus in the 2nd quarter valued at about $519,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rambus by 1,320.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after purchasing an additional 120,549 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its holdings in Rambus by 250.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock worth $870,000 after buying an additional 9,718 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.