Rambus (NASDAQ:RMBS) Price Target Raised to $73.00 at Wells Fargo & Company

Rambus (NASDAQ:RMBS) had its price target boosted by stock analysts at Wells Fargo & Company from $62.00 to $73.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.75% from the company’s current price.

Other equities analysts have also issued reports about the stock. 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 started coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Evercore ISI started coverage on Rambus in a research note on Tuesday. They set an “outperform” rating and a $71.00 target price for the company. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Baird R W upgraded Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Seven 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 MarketBeat, the company presently has an average rating of “Buy” and an average target price of $76.71.

Rambus Stock Performance

Shares of NASDAQ RMBS traded up $0.61 during mid-day trading on Tuesday, reaching $60.96. The company had a trading volume of 174,561 shares, compared to its average volume of 895,128. The firm has a market cap of $6.50 billion, a price-to-earnings ratio of 37.92 and a beta of 1.26. The business’s 50-day simple moving average is $57.64 and its 200 day simple moving average is $50.14. Rambus has a one year low of $37.42 and a one year high of $69.89.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of Rambus 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 sale, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rambus

Several large investors have recently modified their holdings of the business. UMB Bank n.a. increased its holdings 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 purchasing an additional 455 shares during the period. Quarry LP grew its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC grew its position 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 buying an additional 1,769 shares during the last quarter. Blue Trust Inc. increased its stake in shares of 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 buying an additional 2,920 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of Rambus by 58.2% during the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 1,582 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.