Rambus (NASDAQ:RMBS) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Rambus (NASDAQ:RMBS) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $62.00 price target on the semiconductor company’s stock.

RMBS has been the subject of a number of other research reports. Susquehanna lowered their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th.

Rambus Price Performance

Shares of RMBS opened at $55.78 on Wednesday. The business’s 50 day simple moving average is $42.99 and its 200-day simple moving average is $50.54. Rambus has a one year low of $37.42 and a one year high of $76.38. The company has a market capitalization of $5.94 billion, a P/E ratio of 34.65 and a beta of 1.17.

Hedge Funds Weigh In On Rambus

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp boosted its position in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus in the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC lifted its position 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 purchasing an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.