Rambus (NASDAQ:RMBS) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Rambus (NASDAQ:RMBS) had its price objective upped by Rosenblatt Securities from $80.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 19.86% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Susquehanna increased their price target on shares of Rambus from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday. Wall Street Zen raised shares of Rambus from a “buy” rating to a “strong-buy” rating in a report on Friday, July 18th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus has a consensus rating of “Buy” and a consensus price target of $77.71.

Rambus Trading Up 2.7%

Shares of NASDAQ:RMBS opened at $75.09 on Tuesday. Rambus has a 12 month low of $37.42 and a 12 month high of $76.07. The company has a 50-day moving average price of $61.82 and a 200 day moving average price of $57.56. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 35.42 and a beta of 1.24.

Insider Transactions at Rambus

In other Rambus news, Director Steven Laub sold 1,847 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director owned 9,057 shares of the company’s stock, valued at $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

Several institutional investors have recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD lifted its stake in Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the last quarter. Invesco Ltd. lifted its stake in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. Norges Bank bought a new stake in Rambus in the fourth quarter worth about $94,368,000. EdgePoint Investment Group Inc. bought a new stake in Rambus in the first quarter worth about $60,535,000. Finally, Nuveen LLC bought a new stake in Rambus in the first quarter worth about $57,084,000. Institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

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.