Rambus (NASDAQ:RMBS) Price Target Raised to $73.00 at Wells Fargo & Company

Rambus (NASDAQ:RMBS) had its price objective increased by Wells Fargo & Company from $62.00 to $73.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 19.75% from the stock’s previous close.

RMBS has been the subject of a number of other reports. Robert W. Baird began coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Rosenblatt Securities boosted their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday. They set an “outperform” rating and a $71.00 price target on the stock. Finally, Loop Capital started coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $76.71.

Rambus Trading Up 1.0 %

Shares of Rambus stock traded up $0.61 during trading hours on Tuesday, reaching $60.96. 174,561 shares of the company’s stock were exchanged, compared to its average volume of 895,128. The stock has a market cap of $6.50 billion, a P/E ratio of 37.92 and a beta of 1.26. The company has a 50 day moving average of $57.64 and a two-hundred day moving average of $50.14. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $69.89.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

A number of large investors have recently made changes to their positions in RMBS. UMB Bank n.a. boosted its stake in Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 455 shares during the period. 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 valued at $39,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC increased its position in 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. raised its stake in 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 in the last quarter. Finally, Meeder Asset Management Inc. raised 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.

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.