Short Interest in Rambus Inc. (NASDAQ:RMBS) Grows By 21.1%

Rambus Inc. (NASDAQ:RMBS) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 3,330,000 shares, an increase of 21.1% from the January 15th total of 2,750,000 shares. Based on an average trading volume of 960,900 shares, the short-interest ratio is presently 3.5 days. Approximately 3.2% of the company’s shares are sold short.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction 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 owns 29,090 shares in the company, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RMBS. UMB Bank n.a. boosted 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 acquiring an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 640 shares during the last quarter. Quarry LP boosted 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 acquiring an additional 264 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 891 shares during the period. Finally, GeoWealth Management LLC purchased a new stake in Rambus during the 4th quarter valued at $68,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ:RMBS traded up $0.36 during mid-day trading on Friday, reaching $62.96. 872,733 shares of the company traded hands, compared to its average volume of 1,060,561. The company’s 50 day moving average price is $58.91 and its 200-day moving average price is $50.59. The firm has a market cap of $6.71 billion, a PE ratio of 37.93 and a beta of 1.26. Rambus has a 52 week low of $37.42 and a 52 week high of $69.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Loop Capital assumed coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Robert W. Baird assumed coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rambus has an average rating of “Buy” and an average target price of $77.29.

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.