Rambus (NASDAQ:RMBS) Now Covered by Wells Fargo & Company

Investment analysts at Wells Fargo & Company initiated coverage on shares of Rambus (NASDAQ:RMBS - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The brokerage set an "overweight" rating and a $62.00 price target on the semiconductor company's stock. Wells Fargo & Company's price target indicates a potential upside of 7.45% from the stock's previous close.

RMBS has been the subject of a number of other reports. Rosenblatt Securities reiterated a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Susquehanna dropped their price objective on Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a research note on Friday, July 26th.

Rambus Trading Up 14.8 %

Shares of RMBS traded up $7.44 during trading hours on Wednesday, reaching $57.70. The stock had a trading volume of 2,708,219 shares, compared to its average volume of 1,574,708. The firm has a 50-day simple moving average of $42.51 and a 200 day simple moving average of $50.53. Rambus has a 12 month low of $37.42 and a 12 month high of $76.38. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 35.84 and a beta of 1.17.

Hedge Funds Weigh In On Rambus

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB bought a new stake in Rambus during the first quarter worth $61,377,000. Assenagon Asset Management S.A. raised its stake in shares of Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock worth $53,483,000 after purchasing an additional 978,417 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Rambus by 559.7% in the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company's stock worth $33,133,000 after buying an additional 486,078 shares during the last quarter. American Century Companies Inc. grew its position in Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company's stock valued at $61,897,000 after buying an additional 410,332 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in 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 worth $61,765,000 after buying an additional 357,160 shares during the last quarter. Hedge funds and other 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.