Rambus (NASDAQ:RMBS) Coverage Initiated at Evercore ISI

Equities researchers at Evercore ISI started coverage on shares of Rambus (NASDAQ:RMBS) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $71.00 price target on the semiconductor company’s stock. Evercore ISI’s price target indicates a potential upside of 4.80% from the stock’s current price.

Several other research firms also recently commented on RMBS. Rosenblatt Securities boosted their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company began coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Loop Capital began coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $77.29.

Rambus Price Performance

RMBS opened at $67.75 on Tuesday. The company has a market capitalization of $7.22 billion, a PE ratio of 42.08 and a beta of 1.26. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $67.90. The business has a 50-day moving average of $57.84 and a 200-day moving average of $50.19.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of the firm’s 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Rambus

Hedge funds have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV lifted its stake in shares of Rambus by 2.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares during the period. Quarry LP lifted its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares during the period. Chartwell Investment Partners LLC grew its holdings in shares of Rambus by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock worth $1,645,000 after purchasing an additional 318 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 350 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Rambus by 8.6% during the fourth quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 350 shares during the period. 88.54% of the stock is owned by institutional investors.

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.