Wells Fargo & Company Forecasts Strong Price Appreciation for Rambus (NASDAQ:RMBS) Stock

Rambus (NASDAQ:RMBS) had its price target hoisted by Wells Fargo & Company from $62.00 to $73.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on RMBS. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Robert W. Baird began coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities increased their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Evercore ISI began coverage on shares of Rambus in a report on Tuesday. They set an “outperform” rating and a $71.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rambus has a consensus rating of “Buy” and an average price target of $77.29.

Rambus Trading Down 0.7 %

NASDAQ:RMBS opened at $67.28 on Tuesday. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 41.79 and a beta of 1.26. The company’s 50-day moving average is $58.06 and its two-hundred day moving average is $50.32. Rambus has a 12-month low of $37.42 and a 12-month high of $69.15.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of the 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 sale, the director now owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. grew its position in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares in the last quarter. Quarry LP grew its position in Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Lindbrook Capital LLC grew its position in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 166 shares in the last quarter. GAMMA Investing LLC grew 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 acquiring an additional 1,769 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after acquiring an additional 2,920 shares in 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.