Rambus (NASDAQ:RMBS) Sets New 1-Year High After Analyst Upgrade

Rambus Inc. (NASDAQ:RMBS)’s share price reached a new 52-week high during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $66.00 to $70.00. Susquehanna currently has a positive rating on the stock. Rambus traded as high as $67.90 and last traded at $67.31, with a volume of 662412 shares. The stock had previously closed at $64.44.

Other analysts have also recently issued reports about the stock. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday. They issued an “outperform” rating and a $71.00 price target on the stock. 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. Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and a consensus target price of $77.29.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated 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 directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Hedge funds have recently made changes to their positions in the business. UMB Bank n.a. boosted its holdings in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 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 acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Rambus by 207.1% in the 3rd 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 last quarter. Moody National Bank Trust Division acquired a new stake in shares of Rambus during the fourth quarter worth $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rambus by 448.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 3,245 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Trading Up 4.5 %

The stock has a 50-day moving average of $57.84 and a two-hundred day moving average of $50.19. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 41.64 and a beta of 1.26.

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.