Rambus (NASDAQ:RMBS) Price Target Raised to $90.00

Rambus (NASDAQ:RMBS) had its price target boosted by Rosenblatt Securities from $80.00 to $90.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

RMBS has been the subject of a number of other reports. Wall Street Zen raised shares of Rambus from a “buy” rating to a “strong-buy” rating in a report on Friday, July 18th. Susquehanna upped their price target on shares of Rambus from $70.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.71.

Rambus Price Performance

NASDAQ RMBS opened at $73.93 on Tuesday. Rambus has a 1-year low of $37.42 and a 1-year high of $76.07. The business has a 50 day simple moving average of $62.20 and a two-hundred day simple moving average of $57.68. The stock has a market capitalization of $7.94 billion, a PE ratio of 34.87 and a beta of 1.24.

Insider Activity at Rambus

In related news, Director Steven Laub sold 3,653 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the sale, the director owned 10,904 shares in the company, valued at approximately $605,826.24. This represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RMBS. Banque Cantonale Vaudoise bought a new stake in shares of Rambus in the 1st quarter worth about $25,000. Tsfg LLC purchased a new stake in Rambus in the 1st quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in Rambus in the 4th quarter worth about $37,000. McIlrath & Eck LLC bought a new stake in Rambus in the first quarter worth about $42,000. Finally, Larson Financial Group LLC boosted its position in shares of Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 794 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.