Rambus (NASDAQ:RMBS) Coverage Initiated at Robert W. Baird

Research analysts at Robert W. Baird initiated coverage on shares of Rambus (NASDAQ:RMBS) in a report released on Monday,Benzinga reports. The firm set an “outperform” rating and a $90.00 price target on the semiconductor company’s stock. Robert W. Baird’s target price indicates a potential upside of 58.20% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, Loop Capital assumed coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus price target of $74.67.

Rambus Price Performance

Rambus stock traded up $0.93 during mid-day trading on Monday, reaching $56.89. 1,425,061 shares of the stock traded hands, compared to its average volume of 1,530,627. The stock has a market capitalization of $6.06 billion, a PE ratio of 35.34 and a beta of 1.17. The business’s 50-day moving average is $45.68 and its 200-day moving average is $50.31. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38.

Hedge Funds Weigh In On Rambus

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Rambus in the second quarter worth approximately $38,000. Fifth Third Bancorp lifted its stake in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares in the last quarter. Blue Trust Inc. raised its holdings in Rambus by 240.6% in 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. purchased a new stake in shares of Rambus in the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC lifted its position in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares in the last quarter. 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.