Analysts Set Rambus Inc. (NASDAQ:RMBS) Target Price at $74.67

Rambus Inc. (NASDAQ:RMBS - Get Free Report) has earned an average rating of "Buy" from the seven research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $74.67.

A number of equities research analysts recently issued reports on the company. Robert W. Baird initiated coverage on Rambus in a research note on Monday, November 25th. They issued an "outperform" rating and a $90.00 target price on the stock. Loop Capital initiated coverage on shares of Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 price target for the company. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th.

Insider Transactions at Rambus

In other 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in shares of Rambus in the second quarter worth $38,000. Fifth Third Bancorp increased its holdings in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. raised its position in Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock valued at $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus during the second quarter worth about $87,000. Finally, GAMMA Investing LLC boosted its position in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock worth $111,000 after buying an additional 1,769 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

NASDAQ:RMBS traded down $1.04 during mid-day trading on Friday, hitting $52.58. 3,248,880 shares of the company's stock traded hands, compared to its average volume of 1,491,377. The company has a market cap of $5.60 billion, a PE ratio of 32.66 and a beta of 1.22. The firm's 50 day simple moving average is $52.30 and its 200 day simple moving average is $50.49. Rambus has a 1 year low of $37.42 and a 1 year high of $76.38.

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.