Rambus Inc. (NASDAQ:RMBS) Short Interest Update

Rambus Inc. (NASDAQ:RMBS) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 3,450,000 shares, a growth of 24.5% from the October 31st total of 2,770,000 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average trading volume of 1,570,000 shares, the short-interest ratio is presently 2.2 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RMBS. Loop Capital started coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Robert W. Baird began coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price 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 price target on the stock. Finally, Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $74.67.

Rambus Stock Performance

Rambus stock traded up $0.69 during mid-day trading on Friday, reaching $57.81. 574,108 shares of the company were exchanged, compared to its average volume of 945,433. The firm has a market cap of $6.16 billion, a P/E ratio of 35.91 and a beta of 1.17. The business has a fifty day moving average of $47.52 and a 200 day moving average of $50.31. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RMBS. Assenagon Asset Management S.A. grew its stake in Rambus by 339.3% in 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 purchasing an additional 978,417 shares during the last quarter. Swedbank AB boosted its holdings in shares of Rambus by 56.1% in the 2nd quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after buying an additional 556,850 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rambus by 559.7% in the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after buying an additional 486,078 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Rambus in the 3rd quarter worth approximately $18,984,000. Finally, American Century Companies Inc. raised its stake in shares of Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after acquiring an additional 410,332 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

About Rambus

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.