Rambus (NASDAQ:RMBS) Rating Increased to Strong-Buy at Benchmark

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

A number of other equities analysts also recently issued reports on RMBS. Wells Fargo & Company increased their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group raised their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Finally, Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.75.

Rambus Stock Performance

Shares of RMBS stock opened at $101.42 on Wednesday. The firm has a market cap of $10.97 billion, a P/E ratio of 48.30 and a beta of 1.84. Rambus has a fifty-two week low of $62.81 and a fifty-two week high of $174.10. The business’s 50 day moving average price is $132.28 and its 200-day moving average price is $114.10.

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

Insider Activity at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the sale, the director owned 19,218 shares in the company, valued at approximately $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,886 shares of company stock worth $10,171,466 in the last quarter. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Rambus

A number of large investors have recently bought and sold shares of the company. Krilogy Financial LLC increased its holdings in Rambus by 3.8% in the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after buying an additional 81 shares during the period. Oak Grove Capital LLC lifted its stake in Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after acquiring an additional 103 shares during the last quarter. Balefire LLC boosted its holdings in shares of Rambus by 3.8% in the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 108 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Rambus by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 110 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.