Analysts Set Rambus Inc. (NASDAQ:RMBS) PT at $77.29

Rambus Inc. (NASDAQ:RMBS) has earned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $77.29.

Several research analysts recently weighed in on the stock. Rosenblatt Securities boosted their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Loop Capital initiated coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were 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 trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of Rambus

A number of institutional investors have recently modified their holdings of RMBS. State Street Corp raised its holdings in Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after acquiring an additional 164,830 shares during the period. Geode Capital Management LLC grew its position in shares of Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares in the last quarter. Swedbank AB grew its position in shares of Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after purchasing an additional 193,150 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Rambus by 32.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after purchasing an additional 357,160 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Up 0.3 %

Shares of NASDAQ:RMBS opened at $67.17 on Friday. Rambus has a 1-year low of $37.42 and a 1-year high of $69.15. The stock has a market cap of $7.16 billion, a PE ratio of 40.46 and a beta of 1.26. The stock’s fifty day simple moving average is $58.44 and its two-hundred day simple moving average is $50.31.

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.