StockNews.com Upgrades Rambus (NASDAQ:RMBS) to “Buy”

Rambus (NASDAQ:RMBS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird began coverage on Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Rosenblatt Securities lifted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Evercore ISI started coverage on shares of Rambus in a research note on Tuesday. They set an “outperform” rating and a $71.00 price objective for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Buy” and an average price target of $77.29.

Rambus Stock Performance

NASDAQ RMBS traded up $3.31 on Wednesday, reaching $67.75. The company had a trading volume of 1,587,910 shares, compared to its average volume of 1,013,464. The company’s fifty day moving average is $57.84 and its 200-day moving average is $50.19. Rambus has a 1-year low of $37.42 and a 1-year high of $67.90. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 42.08 and a beta of 1.26.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 455 shares during the last quarter. Quarry LP lifted its position in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC boosted 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 worth $111,000 after acquiring an additional 1,769 shares during the period. Blue Trust Inc. grew its position in shares of Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 2,920 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Rambus by 58.2% during the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,582 shares during the period. 88.54% of the stock is owned by 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.