Brokerages Set Rambus Inc. (NASDAQ:RMBS) Price Target at $77.29

Rambus Inc. (NASDAQ:RMBS) has been given a consensus rating of “Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $77.29.

Several equities analysts have recently commented on RMBS shares. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Robert W. Baird began coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Finally, Evercore ISI initiated coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock.

Rambus Stock Performance

Shares of RMBS opened at $67.17 on Friday. The firm has a market cap of $7.16 billion, a P/E ratio of 40.46 and a beta of 1.26. Rambus has a 52 week low of $37.42 and a 52 week high of $69.15. The firm’s 50-day simple moving average is $58.44 and its 200 day simple moving average is $50.31.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Trading of Rambus

A number of hedge funds and other institutional investors have recently modified their holdings of RMBS. UMB Bank n.a. raised its position in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after buying an additional 640 shares during the period. Quarry LP boosted its position in shares of Rambus by 40.3% during 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 in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 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.