Rambus (NASDAQ:RMBS) Price Target Raised to $70.00

Rambus (NASDAQ:RMBS) had its target price hoisted by Susquehanna from $66.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

A number of other equities analysts have also weighed in on the company. Robert W. Baird began coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI assumed coverage on Rambus in a research report on Tuesday. They issued an “outperform” rating and a $71.00 price target for the company. Finally, Rosenblatt Securities increased their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and an average target price of $77.29.

Rambus Stock Down 0.7 %

Shares of NASDAQ:RMBS opened at $67.28 on Tuesday. Rambus has a twelve month low of $37.42 and a twelve month high of $69.15. The stock’s 50 day moving average is $58.06 and its 200-day moving average is $50.32. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 41.79 and a beta of 1.26.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was 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 directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Large investors have recently made changes to their positions in the business. UMB Bank n.a. increased its position in shares of Rambus by 554.9% during the 4th 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 last quarter. Quarry LP increased its position in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 264 shares during the last quarter. Lindbrook Capital LLC increased its position in shares of Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new stake in shares of Rambus during the 4th quarter valued at $203,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.