Rambus (NASDAQ:RMBS) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a buy rating in a research report released on Wednesday.

Several other research analysts have also recently commented on RMBS. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday. Evercore ISI began coverage on shares of Rambus in a report on Tuesday. They issued an “outperform” rating and a $71.00 price target on the stock. Loop Capital assumed coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, Rosenblatt Securities upped their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $77.29.

Rambus Stock Performance

NASDAQ RMBS opened at $67.00 on Wednesday. The stock’s 50 day moving average price is $58.26 and its two-hundred day moving average price is $50.43. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 41.62 and a beta of 1.26. Rambus has a 52 week low of $37.42 and a 52 week high of $69.15.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. lifted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares during the last quarter. Quarry LP raised its stake in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 166 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Rambus by 207.1% in the 3rd 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 in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Rambus by 255.9% during the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 2,920 shares during the last quarter. Institutional investors 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.