Rambus Inc. (NASDAQ:RMBS) Receives Average Recommendation of “Buy” from Analysts

Rambus Inc. (NASDAQ:RMBS) has been assigned an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $74.67.

Several analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock.

Institutional Trading of Rambus

Several institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB acquired a new position in shares of Rambus during the 1st quarter worth approximately $61,377,000. Assenagon Asset Management S.A. raised its holdings in shares of Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after acquiring an additional 978,417 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after acquiring an additional 486,078 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Rambus during the third quarter valued at $18,984,000. Finally, American Century Companies Inc. increased its position in Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after purchasing an additional 410,332 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Up 1.7 %

NASDAQ RMBS traded up $0.93 during trading hours on Monday, hitting $56.89. 1,461,909 shares of the stock were exchanged, compared to its average volume of 1,533,892. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38. The stock has a 50-day moving average of $45.68 and a 200 day moving average of $50.31. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 35.34 and a beta of 1.17.

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.