Rambus (NASDAQ:RMBS) Shares Gap Up – Here’s Why

Shares of Rambus Inc. (NASDAQ:RMBS) gapped up before the market opened on Tuesday . The stock had previously closed at $56.89, but opened at $60.72. Rambus shares last traded at $59.02, with a volume of 133,877 shares trading hands.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of recent research reports. Wells Fargo & Company assumed coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Loop Capital started coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Finally, Robert W. Baird initiated coverage on Rambus in a research report on Monday. They set an “outperform” rating and a $90.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $74.67.

Rambus Stock Performance

The stock’s fifty day moving average is $46.02 and its two-hundred day moving average is $50.32. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 35.34 and a beta of 1.17.

Institutional Investors Weigh In On Rambus

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Rambus by 386.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after acquiring an additional 229,066 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of 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 worth $61,765,000 after purchasing an additional 357,160 shares in the last quarter. Swedbank AB increased its holdings in shares of Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after purchasing an additional 556,850 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Rambus by 559.4% during the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock valued at $1,113,000 after purchasing an additional 16,067 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Rambus by 51.3% in the first quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock worth $4,289,000 after purchasing an additional 23,526 shares during the period. 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.