Rambus Inc. (NASDAQ:RMBS) Receives Average Recommendation of “Buy” from Brokerages

Rambus Inc. (NASDAQ:RMBS) has received an average rating of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $74.67.

RMBS has been the subject of a number of analyst reports. Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company began coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Rambus in a report on Monday. They issued an “outperform” rating and a $90.00 price target for the company.

Rambus Stock Up 1.7 %

Rambus stock traded up $0.93 during trading on Monday, reaching $56.89. The stock had a trading volume of 1,461,909 shares, compared to its average volume of 1,533,892. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38. The business has a 50 day moving average price of $45.68 and a 200 day moving average price of $50.31. The stock has a market cap of $6.06 billion, a PE ratio of 35.34 and a beta of 1.17.

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Rambus during the 2nd quarter worth $38,000. Fifth Third Bancorp increased its position in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Blue Trust Inc. raised its stake in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Rambus during the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC lifted its position in 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 acquiring an additional 1,769 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

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.