Rambus Inc. (NASDAQ:RMBS) Sees Significant Growth in Short Interest

Rambus Inc. (NASDAQ:RMBS) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,450,000 shares, a growth of 24.5% from the October 31st total of 2,770,000 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Rambus during the second quarter valued at $38,000. Fifth Third Bancorp increased its holdings in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. increased its holdings in shares of Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus during the second quarter valued at $87,000. Finally, GAMMA Investing LLC increased 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 period. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

RMBS stock opened at $57.81 on Monday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 35.91 and a beta of 1.17. Rambus has a 1 year low of $37.42 and a 1 year high of $76.38. The stock’s fifty day moving average is $47.52 and its two-hundred day moving average is $50.31.

Analyst Ratings Changes

RMBS has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective on the stock. Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price objective on the stock. Robert W. Baird initiated coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Six equities research 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.com, the company has an average rating of “Buy” and an average price target of $74.67.

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.