Evercore ISI Begins Coverage on Rambus (NASDAQ:RMBS)

Evercore ISI initiated coverage on shares of Rambus (NASDAQ:RMBS) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $71.00 price objective on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on RMBS. Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday. Loop Capital began coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Robert W. Baird started coverage on Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and a consensus target price of $77.29.

Rambus Trading Up 6.8 %

RMBS opened at $64.44 on Tuesday. Rambus has a 12 month low of $37.42 and a 12 month high of $69.89. The business’s 50-day moving average price is $57.84 and its 200-day moving average price is $50.19. The company has a market cap of $6.87 billion, a P/E ratio of 40.03 and a beta of 1.26.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in RMBS. UMB Bank n.a. grew its stake in shares of Rambus by 554.9% in 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 grew its stake in shares of Rambus by 40.3% in 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 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 acquiring an additional 1,769 shares in the last quarter. Blue Trust Inc. raised its position in shares of Rambus by 255.9% in the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 2,920 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Rambus by 58.2% in the 3rd 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 in the last quarter. Institutional investors own 88.54% of the company’s stock.

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.