Analysts Set Rambus Inc. (NASDAQ:RMBS) PT at $74.67

Rambus Inc. (NASDAQ:RMBS) has earned an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $74.67.

A number of research analysts have weighed in on the stock. Robert W. Baird began coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Wells Fargo & Company assumed coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Finally, Loop Capital started coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company.

Rambus Stock Up 1.3 %

Shares of NASDAQ:RMBS opened at $59.67 on Tuesday. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38. The stock’s 50 day moving average is $55.96 and its 200-day moving average is $50.40. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 37.06 and a beta of 1.23.

Insider Activity at Rambus

In other Rambus 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 value of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Rambus by 0.8% during 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 buying an additional 21,053 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock worth $127,248,000 after acquiring an additional 116,976 shares during the period. Dimensional Fund Advisors LP increased its holdings in Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock worth $105,673,000 after acquiring an additional 158,259 shares during the last quarter. Finally, Swedbank AB raised 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 period. 88.54% of the stock is owned by 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.