Rambus (NASDAQ:RMBS) Stock Rating Upgraded by Benchmark

Rambus (NASDAQ:RMBS) was upgraded by Benchmark to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. Rosenblatt Securities boosted their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group upped their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $101.42 on Wednesday. Rambus has a one year low of $62.81 and a one year high of $174.10. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 48.30 and a beta of 1.84. The firm has a 50 day simple moving average of $132.28 and a 200 day simple moving average of $114.10.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, analysts expect that Rambus will post 2.44 EPS for the current year.

Insider Activity

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

Several institutional investors have recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD increased its position in Rambus by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after purchasing an additional 140,226 shares during the period. Invesco Ltd. lifted its position in shares of Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Geode Capital Management LLC lifted its position in shares of Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after purchasing an additional 94,214 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Rambus by 38.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after purchasing an additional 541,056 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Rambus in the 4th quarter valued at $156,356,000. 88.54% of the stock is currently owned by 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.