Rambus (NASDAQ:RMBS) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Rambus (NASDAQ:RMBS) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $62.00 price objective on the semiconductor company’s stock.

Other research analysts have also issued research reports about the company. Susquehanna decreased their target price on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th.

Rambus Stock Performance

Shares of Rambus stock traded down $0.91 during midday trading on Wednesday, reaching $55.78. 874,043 shares of the company’s stock traded hands, compared to its average volume of 1,570,106. The company has a market cap of $5.94 billion, a PE ratio of 34.65 and a beta of 1.17. The stock has a 50 day moving average of $42.99 and a 200-day moving average of $50.58. Rambus has a 12 month low of $37.42 and a 12 month high of $76.38.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Rambus during the second quarter valued at approximately $38,000. Fifth Third Bancorp lifted its stake in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Blue Trust Inc. boosted its holdings in shares of Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rambus in the second quarter worth approximately $87,000. Finally, GAMMA Investing LLC raised its holdings in shares of Rambus by 207.1% during the third 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. 88.54% of the stock is currently owned by 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.