Rambus (NASDAQ:RMBS) Price Target Raised to $92.00

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

Several other equities research analysts also recently commented on the company. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Wells Fargo & Company initiated coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Finally, Loop Capital initiated coverage on Rambus in a research note 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $77.29.

Rambus Trading Down 0.7 %

Rambus stock opened at $67.28 on Tuesday. The business’s fifty day simple moving average is $58.06 and its two-hundred day simple moving average is $50.32. Rambus has a 12 month low of $37.42 and a 12 month high of $69.15. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 41.79 and a beta of 1.26.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of Rambus

A number of hedge funds have recently bought and sold shares of RMBS. Sanctuary Advisors LLC purchased a new stake in Rambus in the second quarter worth about $240,000. SG Americas Securities LLC raised its stake in shares of Rambus by 249.7% in the third quarter. SG Americas Securities LLC now owns 31,419 shares of the semiconductor company’s stock worth $1,327,000 after buying an additional 22,435 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Rambus by 33.9% in the third quarter. Handelsbanken Fonder AB now owns 32,397 shares of the semiconductor company’s stock worth $1,368,000 after buying an additional 8,200 shares during the period. GAMMA Investing LLC raised its stake 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 worth $111,000 after buying an additional 1,769 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Rambus by 4.3% in the third quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company’s stock worth $1,142,000 after buying an additional 1,106 shares during the period. Hedge funds and other 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.