Rosenblatt Securities Forecasts Strong Price Appreciation for Rambus (NASDAQ:RMBS) Stock

Rambus (NASDAQ:RMBS) had its target price upped by Rosenblatt Securities from $85.00 to $92.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on RMBS. Wells Fargo & Company assumed coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $77.29.

Rambus Trading Up 6.8 %

Shares of RMBS stock opened at $64.44 on Tuesday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 40.03 and a beta of 1.26. Rambus has a twelve month low of $37.42 and a twelve month high of $69.89. The stock has a fifty day simple moving average of $57.84 and a two-hundred day simple moving average of $50.19.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of the company’s 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 sale, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMBS. Sanctuary Advisors LLC acquired a new stake in Rambus during the 2nd quarter worth about $240,000. SG Americas Securities LLC boosted its stake in shares of Rambus by 249.7% in the third quarter. SG Americas Securities LLC now owns 31,419 shares of the semiconductor company’s stock worth $1,327,000 after buying an additional 22,435 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Rambus by 33.9% during the third quarter. Handelsbanken Fonder AB now owns 32,397 shares of the semiconductor company’s stock worth $1,368,000 after acquiring an additional 8,200 shares during the period. GAMMA Investing LLC raised its position in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Rambus by 4.3% in the third quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company’s stock valued at $1,142,000 after acquiring an additional 1,106 shares during the period. 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.