Rambus (NASDAQ:RMBS) Price Target Raised to $70.00

Rambus (NASDAQ:RMBS) had its price target boosted by analysts at Susquehanna from $66.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective would indicate a potential upside of 3.32% from the company’s previous close.

A number of other analysts have also recently weighed in on RMBS. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird assumed coverage on Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. Wells Fargo & Company increased their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Evercore ISI assumed coverage on Rambus in a research note on Tuesday. They set an “outperform” rating and a $71.00 target price for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rambus has an average rating of “Buy” and a consensus target price of $77.29.

Rambus Trading Up 5.1 %

Rambus stock opened at $67.75 on Tuesday. Rambus has a twelve month low of $37.42 and a twelve month high of $67.90. The stock has a 50 day moving average of $57.84 and a two-hundred day moving average of $50.19. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 42.08 and a beta of 1.26.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the firm’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 transaction, the director now owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its position in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares in the last quarter. Quarry LP increased its position in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after buying an additional 264 shares in the last quarter. GAMMA Investing LLC increased its position in Rambus by 207.1% during 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 in the last quarter. Moody National Bank Trust Division purchased a new position in Rambus during the fourth quarter worth $203,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Rambus by 448.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock worth $215,000 after buying an additional 3,245 shares in the last quarter. 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.