Rambus (NASDAQ:RMBS) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Rambus (NASDAQ:RMBS) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $62.00 price target on the semiconductor company’s stock.

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

Rambus Price Performance

NASDAQ RMBS opened at $57.70 on Wednesday. Rambus has a 1-year low of $37.42 and a 1-year high of $76.38. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 35.84 and a beta of 1.17. The business’s fifty day moving average price is $42.51 and its 200-day moving average price is $50.53.

Institutional Investors Weigh In On Rambus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Rambus in the second quarter worth $38,000. Fifth Third Bancorp increased its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares in the last quarter. Blue Trust Inc. increased its stake in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after buying an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the second quarter valued at about $87,000. Finally, GAMMA Investing LLC lifted its position in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.