Rambus (NASDAQ:RMBS) Given New $92.00 Price Target at Rosenblatt Securities

Rambus (NASDAQ:RMBS) had its target price hoisted by Rosenblatt Securities from $85.00 to $92.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued reports about the company. Baird R W upgraded Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Robert W. Baird started coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rambus has a consensus rating of “Buy” and an average target price of $77.29.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $64.44 on Tuesday. The company has a market cap of $6.87 billion, a P/E ratio of 40.03 and a beta of 1.26. Rambus has a 52-week low of $37.42 and a 52-week high of $69.89. The firm’s fifty day moving average is $57.84 and its two-hundred day moving average is $50.19.

Insiders Place Their Bets

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Trading of Rambus

Several institutional investors have recently added to or reduced their stakes in RMBS. Assenagon Asset Management S.A. grew its stake in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares during the last quarter. Congress Asset Management Co. purchased a new position in Rambus during the 4th quarter valued at $45,778,000. SG Americas Securities LLC grew its position in Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after acquiring an additional 520,754 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Rambus in the third quarter worth $18,984,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares during the period. Institutional investors own 88.54% of the company’s stock.

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.