Rambus (NASDAQ:RMBS) Reaches New 1-Year High Following Analyst Upgrade

Rambus Inc. (NASDAQ:RMBS)’s share price reached a new 52-week high during trading on Wednesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $67.90 and last traded at $67.31, with a volume of 662412 shares. The stock had previously closed at $64.44.

Several other equities research analysts have also commented on the stock. Rosenblatt Securities raised their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday. Robert W. Baird started coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Finally, 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 on the stock. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $77.29.

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred 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 $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 this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. boosted its position in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the period. Quarry LP boosted its holdings in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 264 shares during the period. GAMMA Investing LLC grew its position in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 1,769 shares during the last quarter. Blue Trust Inc. grew its position in Rambus by 255.9% in the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 2,920 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Rambus by 58.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,582 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Stock Up 5.1 %

The stock’s 50-day moving average price is $57.84 and its 200 day moving average price is $50.19. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 42.08 and a beta of 1.26.

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.