Rambus (NASDAQ:RMBS) Price Target Raised to $70.00

Rambus (NASDAQ:RMBS) had its target price boosted by research analysts at Susquehanna from $66.00 to $70.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target would suggest a potential upside of 11.55% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Evercore ISI assumed coverage on Rambus in a research note on Tuesday. They issued an “outperform” rating and a $71.00 price target on the stock. Rosenblatt Securities lifted their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird began coverage on shares of Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $77.29.

Rambus Stock Up 4.0 %

Shares of Rambus stock traded up $2.40 on Tuesday, hitting $62.75. The stock had a trading volume of 552,643 shares, compared to its average volume of 915,041. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 38.92 and a beta of 1.26. The stock’s 50-day simple moving average is $57.64 and its two-hundred day simple moving average is $50.14. Rambus has a one year low of $37.42 and a one year high of $69.89.

Insiders Place Their Bets

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its holdings in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 455 shares in the last quarter. Quarry LP lifted its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. GAMMA Investing LLC increased its holdings in 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 buying an additional 1,769 shares during the period. Moody National Bank Trust Division purchased a new position in Rambus during the fourth quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rambus by 448.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock worth $215,000 after buying an additional 3,245 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.