Rambus

RMBS · NASDAQ

$92.48−$0.18 (−0.19%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $92.66

RMBS analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 10 analysts

Average $144.23 (+56.0% upside)

Low: $101.00
Now: $92.48
High: $173.25

Upgrades and downgrades

The latest rating actions, newest first

RMBS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Evercore ISI Group	Jul 28, 2026	Maintains	Outperform	$172.00 → $160.00	61%
Rosenblatt	Jul 28, 2026	Maintains	Buy	$165.00	53%
Benchmark	Jul 16, 2026	Initiates	Buy	$165.00	60%
Jefferies	Apr 28, 2026	Maintains	Buy	$120.00 → $145.00	60%
Wells Fargo	Apr 28, 2026	Maintains	Overweight	$115.00 → $145.00	73%
Evercore ISI Group	Apr 28, 2026	Maintains	Outperform	$119.00 → $172.00	61%
Rosenblatt	Apr 28, 2026	Maintains	Buy	$130.00 → $150.00	53%
Baird	Apr 28, 2026	Downgrade	Outperform → Neutral	$120.00	60%
Susquehanna	Feb 3, 2026	Maintains	Neutral	$100.00 → $90.00	59%
Evercore ISI Group	Feb 3, 2026	Maintains	Outperform	$126.00 → $119.00	61%

The case for and against

Updated Oct 15, 2026

Bull case

Rambus is favorably positioned because its memory interface chips sit at the center of data-center and AI infrastructure, where higher CPU core counts, faster memory, and rising CPU-to-GPU attach rates are driving durable demand. Its Product revenue is projected at about $420MM in FY26, roughly 52% of total FY26 revenue, supported by roughly 45% RCD share and an expanding addressable market above $2.0B annually, with long-term chipset revenue modeled to grow at a 20-25% CAGR. Financially, the company also benefits from a high-margin patent licensing stream that generates more than 70% of cash flow, while 1QF26 revenue of $181.3M, EPS of $0.64, and $786.1M of cash underscore resilience and optionality.

Bear case

Rambus is exposed to several fundamental headwinds that weaken its investment case, including patent licensing disputes with memory IDMs and SoC licensees, and the risk that customers shift away from its memory interface chipsets or silicon IP toward competitors like Renesas, Montage, SNPS, and CDNS, or develop solutions internally. Its reliance on a concentrated revenue base, with the majority coming from South Korea, further increases vulnerability if market share erodes or customer demand softens in that region. In addition, the company faces multiple valuation and execution risks, as investors may assign lower multiples and inorganic growth efforts could bring integration challenges, dilution, and weaker returns.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.