Rambus (NASDAQ:RMBS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Rambus Inc. (NASDAQ:RMBS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.25 and traded as high as $57.12. Rambus shares last traded at $57.08, with a volume of 568,515 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Wells Fargo & Company assumed coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Finally, Robert W. Baird started coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $74.67.

Rambus Stock Up 1.0 %

The stock has a 50-day simple moving average of $55.10 and a two-hundred day simple moving average of $50.25. The firm has a market cap of $6.08 billion, a PE ratio of 35.45 and a beta of 1.23.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of Rambus 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 transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Quarry LP bought a new stake in shares of Rambus in the 2nd quarter valued at about $38,000. GAMMA Investing LLC lifted its position in Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares during the last quarter. MQS Management LLC bought a new stake in Rambus in the second quarter valued at approximately $226,000. Sanctuary Advisors LLC purchased a new stake in shares of Rambus during the second quarter valued at approximately $240,000. Finally, Blue Trust Inc. grew its holdings in shares of Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 2,920 shares during the last quarter. 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.