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

Rambus Inc. (NASDAQ:RMBS) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $74.67.

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

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Rambus in the 2nd quarter valued at approximately $38,000. Fifth Third Bancorp increased 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 purchasing an additional 296 shares during the last quarter. Blue Trust Inc. raised its holdings in 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 buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Rambus in the second quarter worth $87,000. Finally, GAMMA Investing LLC boosted its stake in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Stock Performance

Shares of RMBS stock opened at $52.58 on Friday. The stock has a fifty day simple moving average of $52.47 and a two-hundred day simple moving average of $50.40. The firm has a market capitalization of $5.60 billion, a PE ratio of 32.66 and a beta of 1.22. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38.

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.