Analysts Set Rambus Inc. (NASDAQ:RMBS) Target Price at $74.67

Rambus Inc. (NASDAQ:RMBS) has been given an average rating of “Buy” by the seven analysts that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $74.67.

Several equities analysts have recently weighed in on RMBS shares. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Loop Capital assumed coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company began coverage on shares of Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company.

Insider Activity

In other 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 value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP purchased a new position in Rambus during the second quarter valued at $38,000. Fifth Third Bancorp lifted its position in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares in 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 valued at $71,000 after acquiring an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rambus in the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC raised its stake in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 1.9 %

Rambus stock opened at $52.58 on Friday. The stock’s 50 day moving average is $52.47 and its 200 day moving average is $50.40. The company has a market capitalization of $5.60 billion, a P/E ratio of 32.66 and a beta of 1.22. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38.

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.