Rosenblatt Securities Raises Rambus (NASDAQ:RMBS) Price Target to $92.00

Rambus (NASDAQ:RMBS) had its target price upped by Rosenblatt Securities from $85.00 to $92.00 in a report released on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor company’s stock.

RMBS has been the topic of a number of other reports. Loop Capital started coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $77.29.

Rambus Trading Down 0.7 %

NASDAQ:RMBS opened at $67.28 on Tuesday. The stock has a 50-day moving average price of $58.06 and a 200 day moving average price of $50.32. Rambus has a 12-month low of $37.42 and a 12-month high of $69.15. The stock has a market capitalization of $7.17 billion, a P/E ratio of 41.79 and a beta of 1.26.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC grew its stake in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after buying an additional 166 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Rambus by 0.7% in the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after buying an additional 202 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after buying an additional 246 shares in the last quarter. Quarry LP boosted its stake in shares of Rambus by 40.3% during 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. Finally, Chartwell Investment Partners LLC boosted its stake in shares of Rambus by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock worth $1,645,000 after purchasing an additional 318 shares during the period. 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.