Rambus Inc. (NASDAQ:RMBS) Receives $74.67 Consensus Target Price from Brokerages

Rambus Inc. (NASDAQ:RMBS) has been given an average rating of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six equities 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 target among analysts that have updated their coverage on the stock in the last year is $74.67.

RMBS has been the subject of several research analyst reports. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Finally, Robert W. Baird began coverage on shares of Rambus in a research report on Monday. They issued an “outperform” rating and a $90.00 target price for the company.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $57.12 on Monday. The company has a market cap of $6.09 billion, a PE ratio of 35.48 and a beta of 1.17. Rambus has a 52 week low of $37.42 and a 52 week high of $76.38. The firm has a 50 day simple moving average of $46.78 and a 200 day simple moving average of $50.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Rambus during the 2nd quarter valued at about $38,000. Fifth Third Bancorp grew its holdings in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the last quarter. Blue Trust Inc. grew its holdings in Rambus by 240.6% in 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 last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Rambus in the 2nd quarter valued at approximately $87,000. Finally, GAMMA Investing LLC grew its holdings in 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 buying an additional 1,769 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Company Profile

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.