Rambus (NASDAQ:RMBS) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Rambus (NASDAQ:RMBSGet Free Report) in a report released on Wednesday, Briefing.com reports. The firm set an “overweight” rating and a $62.00 price target on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 23.36% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on RMBS. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Susquehanna reduced their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th.

View Our Latest Stock Analysis on RMBS

Rambus Stock Performance

Rambus stock opened at $50.26 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of 31.22 and a beta of 1.17. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The stock has a 50-day simple moving average of $42.24 and a 200-day simple moving average of $50.48.

Hedge Funds Weigh In On Rambus

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Rambus in the 2nd quarter worth $38,000. Fifth Third Bancorp lifted its position in Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. boosted its holdings in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC raised its stake in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

About Rambus

(Get Free Report)

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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