Wells Fargo & Company Increases Rambus (NASDAQ:RMBS) Price Target to $73.00

Rambus (NASDAQ:RMBS) had its target price raised by equities research analysts at Wells Fargo & Company from $62.00 to $73.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.75% from the stock’s current price.

RMBS has been the topic of a number of other research reports. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI assumed coverage on shares of Rambus in a research note on Tuesday. They issued an “outperform” rating and a $71.00 price objective on the stock. Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $77.29.

Rambus Price Performance

RMBS stock opened at $67.75 on Tuesday. The firm has a market capitalization of $7.22 billion, a P/E ratio of 42.08 and a beta of 1.26. Rambus has a 52-week low of $37.42 and a 52-week high of $67.90. The company’s 50 day simple moving average is $57.84 and its 200-day simple moving average is $50.19.

Insiders Place Their Bets

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction on 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 approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its holdings in Rambus by 24.9% during the fourth quarter. US Bancorp DE now owns 11,686 shares of the semiconductor company’s stock valued at $618,000 after purchasing an additional 2,327 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Rambus during the 4th quarter worth approximately $978,000. Amalgamated Bank boosted its stake in Rambus by 0.9% in the 4th quarter. Amalgamated Bank now owns 48,847 shares of the semiconductor company’s stock valued at $2,582,000 after buying an additional 426 shares in the last quarter. South Dakota Investment Council bought a new stake in Rambus in the fourth quarter valued at $1,460,000. Finally, New York State Common Retirement Fund raised its stake in Rambus by 14.2% during the fourth quarter. New York State Common Retirement Fund now owns 182,460 shares of the semiconductor company’s stock worth $9,645,000 after acquiring an additional 22,660 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

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.