Rambus (NASDAQ:RMBS) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI started coverage on shares of Rambus (NASDAQ:RMBS) in a research note published on Tuesday, Marketbeat.com reports. The firm issued an outperform rating and a $71.00 price target on the semiconductor company’s stock.

RMBS has been the subject of a number of other reports. Rosenblatt Securities upped their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital started coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird started coverage on shares of Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price for the company. Finally, Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $77.29.

Rambus Stock Performance

NASDAQ:RMBS opened at $67.28 on Tuesday. The company has a fifty day moving average of $58.06 and a two-hundred day moving average of $50.32. The stock has a market capitalization of $7.17 billion, a PE ratio of 41.79 and a beta of 1.26. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $69.15.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after purchasing an additional 164,830 shares during the period. Geode Capital Management LLC raised its stake in Rambus by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock worth $110,693,000 after purchasing an additional 21,053 shares during the period. Swedbank AB raised its stake in Rambus by 12.5% during the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock worth $73,589,000 after purchasing an additional 193,150 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Rambus by 32.3% during 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. Finally, Assenagon Asset Management S.A. increased its position in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after acquiring an additional 978,417 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.