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

Rambus Inc. (NASDAQ:RMBS) has been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $74.67.

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

Rambus Price Performance

NASDAQ RMBS opened at $57.81 on Monday. The firm has a market cap of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17. Rambus has a one year low of $37.42 and a one year high of $76.38. The stock’s 50 day simple moving average is $47.52 and its 200 day simple moving average is $50.31.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMBS. Franklin Resources Inc. raised its stake in Rambus by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company’s stock worth $18,612,000 after buying an additional 27,764 shares during the period. World Investment Advisors LLC bought a new position in Rambus during the third quarter worth about $989,000. Sanctuary Advisors LLC boosted its holdings in shares of Rambus by 30.2% during the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock worth $223,000 after acquiring an additional 1,228 shares during the period. Virtu Financial LLC bought a new stake in shares of Rambus during the third quarter worth approximately $407,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Rambus by 6.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 63,922 shares of the semiconductor company’s stock worth $2,699,000 after purchasing an additional 3,775 shares in the last quarter. Institutional investors and hedge funds 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.