Rambus (NASDAQ:RMBS) Shares Gap Up – Time to Buy?

Rambus Inc. (NASDAQ:RMBS) gapped up before the market opened on Tuesday . The stock had previously closed at $56.89, but opened at $60.72. Rambus shares last traded at $59.02, with a volume of 133,877 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RMBS. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday. They set an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $74.67.

Rambus Trading Down 1.1 %

The company has a 50-day moving average of $46.78 and a 200-day moving average of $50.37. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 35.48 and a beta of 1.17.

Institutional Trading of Rambus

Institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in shares of Rambus by 62.1% in the first quarter. Advisors Asset Management Inc. now owns 7,524 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 2,881 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Rambus by 10.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,350 shares of the semiconductor company’s stock valued at $65,294,000 after buying an additional 104,050 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Rambus by 31.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,742 shares of the semiconductor company’s stock valued at $540,000 after buying an additional 2,103 shares during the period. Tidal Investments LLC boosted its stake in shares of Rambus by 136.5% in the first quarter. Tidal Investments LLC now owns 25,082 shares of the semiconductor company’s stock worth $1,550,000 after buying an additional 14,475 shares during the last quarter. Finally, Comerica Bank raised its position in Rambus by 51.3% during the first quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock valued at $4,289,000 after acquiring an additional 23,526 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.