Rambus (NASDAQ:RMBS) Price Target Raised to $73.00

Rambus (NASDAQ:RMBS) had its price objective lifted by Wells Fargo & Company from $62.00 to $73.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the semiconductor company’s stock.

Several other analysts also recently commented on the stock. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Evercore ISI initiated coverage on shares of Rambus in a research report on Tuesday. They issued an “outperform” rating and a $71.00 price target for the company. Rosenblatt Securities upped their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Loop Capital assumed coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $77.29.

Rambus Price Performance

RMBS stock opened at $67.28 on Tuesday. The company has a fifty day moving average price of $58.06 and a 200 day moving average price of $50.32. Rambus has a 12 month low of $37.42 and a 12 month high of $69.15. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 41.79 and a beta of 1.26.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in RMBS. State Street Corp grew its stake in Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after acquiring an additional 164,830 shares during the last quarter. Geode Capital Management LLC grew its stake in Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after acquiring an additional 21,053 shares during the last quarter. Swedbank AB grew its stake in Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after acquiring an additional 193,150 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after acquiring an additional 357,160 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after acquiring an additional 978,417 shares during the last quarter. 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.