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

Rambus (NASDAQ:RMBS) had its price objective increased by analysts at Rosenblatt Securities from $85.00 to $92.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price points to a potential upside of 35.79% from the stock’s current price.

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

Rambus Stock Performance

RMBS stock opened at $67.75 on Tuesday. Rambus has a 52 week low of $37.42 and a 52 week high of $67.90. The company has a market capitalization of $7.22 billion, a PE ratio of 42.08 and a beta of 1.26. The company’s 50-day simple moving average is $57.84 and its 200 day simple moving average is $50.19.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Rambus during the 2nd quarter worth $240,000. SG Americas Securities LLC boosted its stake in shares of Rambus by 249.7% during the third quarter. SG Americas Securities LLC now owns 31,419 shares of the semiconductor company’s stock valued at $1,327,000 after purchasing an additional 22,435 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Rambus by 33.9% during the third quarter. Handelsbanken Fonder AB now owns 32,397 shares of the semiconductor company’s stock worth $1,368,000 after purchasing an additional 8,200 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Rambus by 207.1% in 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. Finally, Diversified Trust Co raised its holdings in Rambus by 4.3% in the 3rd quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company’s stock valued at $1,142,000 after buying an additional 1,106 shares during the last quarter. Institutional investors and hedge funds 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.