Rambus (NASDAQ:RMBS) Reaches New 1-Year High Following Analyst Upgrade

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) reached a new 52-week high during trading on Thursday after Arete upgraded the stock from a neutral rating to a buy rating. Arete now has a $91.00 price target on the stock. Rambus traded as high as $78.56 and last traded at $77.69, with a volume of 72297 shares. The stock had previously closed at $75.05.

• Rambus Stock Poised for Growth – Will the AI Boom Deliver?

RMBS has been the topic of a number of other research reports. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Susquehanna increased their target price on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Jefferies Financial Group increased their target price on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities increased their target price on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, Rambus currently has an average rating of "Buy" and a consensus price target of $79.38.

View Our Latest Stock Report on Rambus

Insider Buying and Selling

• 2 stocks that under-promised and over-delivered on their earnings

In related news, Director Emiko Higashi sold 1,075 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the sale, the director owned 62,296 shares in the company, valued at $4,843,514. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the sale, the director owned 38,324 shares in the company, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,686 shares of company stock worth $718,381. 1.00% of the stock is owned by insiders.

Institutional Trading of Rambus

Several large investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Rambus during the 1st quarter worth $25,000. Tsfg LLC acquired a new position in shares of Rambus in the 1st quarter valued at $26,000. True Wealth Design LLC lifted its stake in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 260 shares in the last quarter. Bessemer Group Inc. lifted its stake in Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 238 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new position in Rambus during the 4th quarter worth about $37,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

• More Upside for 3 Small-Cap Leaders in the Russell 2000 Index

The company has a market cap of $8.37 billion, a price-to-earnings ratio of 36.75 and a beta of 1.28. The business has a 50-day simple moving average of $68.43 and a 200-day simple moving average of $59.18.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.

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