Rambus (NASDAQ:RMBS) Upgraded to “Strong-Buy” at Zacks Research

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

A number of other equities research analysts also recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday. Evercore reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Rambus in a research note on Tuesday. Susquehanna reiterated a “neutral” rating and set a $103.00 target price (up from $100.00) on shares of Rambus in a report on Tuesday. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, UBS Group set a $165.00 target price on shares of Rambus in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Rambus Trading Down 0.0%

Rambus stock opened at $90.99 on Wednesday. The stock has a 50-day moving average price of $93.97 and a 200 day moving average price of $107.93. Rambus has a 52 week low of $77.89 and a 52 week high of $174.10. The stock has a market cap of $9.75 billion, a PE ratio of 36.41 and a beta of 1.85.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. The company had revenue of $218.29 million for the quarter, compared to analysts’ expectations of $213.21 million. Rambus had a net margin of 33.40% and a return on equity of 19.43%. On average, equities analysts predict that Rambus will post 2.52 EPS for the current year.

Institutional Trading of Rambus

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Rambus during the second quarter worth about $1,853,645,000. EdgePoint Investment Group Inc. grew its stake in shares of Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after buying an additional 541,056 shares in the last quarter. Swedbank AB grew its stake in shares of Rambus by 14.7% in the first quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company’s stock valued at $134,465,000 after buying an additional 200,000 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Rambus by 9.0% during the 1st quarter. Bank of America Corp DE now owns 1,361,570 shares of the semiconductor company’s stock valued at $117,136,000 after buying an additional 111,928 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after buying an additional 946,177 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.