Rambus (NASDAQ:RMBS) Price Target Raised to $70.00 at Susquehanna

Rambus (NASDAQ:RMBS) had its price target hoisted by Susquehanna from $66.00 to $70.00 in a research report released on Tuesday,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

RMBS has been the subject of several other research reports. Wells Fargo & Company raised their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Robert W. Baird started coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. Rosenblatt Securities boosted their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday. They set an “outperform” rating and a $71.00 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $77.29.

Rambus Stock Up 6.8 %

NASDAQ:RMBS opened at $64.44 on Tuesday. The firm has a 50-day moving average price of $57.84 and a 200 day moving average price of $50.19. The firm has a market capitalization of $6.87 billion, a PE ratio of 40.03 and a beta of 1.26. Rambus has a 12-month low of $37.42 and a 12-month high of $69.89.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the transaction, the director now owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its holdings in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after acquiring an additional 357,160 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after purchasing an additional 520,754 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Rambus during the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. raised its stake in shares of Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock worth $2,064,000 after buying an additional 16,376 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Rambus in the third quarter valued at approximately $2,077,000. 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.