Rambus (NASDAQ:RMBS) Earns Outperform Rating from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Rambus (NASDAQ:RMBS - Free Report) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $71.00 price objective on the semiconductor company's stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price target for the company. Baird R W upgraded shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday. Loop Capital began coverage on Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 price target on the stock. Finally, Robert W. Baird began coverage on Rambus in a research note on Monday, November 25th. They set an "outperform" rating and a $90.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $77.29.

Rambus Stock Down 0.4 %

Shares of NASDAQ:RMBS traded down $0.28 on Tuesday, hitting $67.00. The company had a trading volume of 1,315,431 shares, compared to its average volume of 1,031,432. The firm's 50-day simple moving average is $58.26 and its two-hundred day simple moving average is $50.43. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 41.62 and a beta of 1.26. Rambus has a 1 year low of $37.42 and a 1 year high of $69.15.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares of the company's stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Rambus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. increased 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 acquiring an additional 357,160 shares during the period. SG Americas Securities LLC grew its position in Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after purchasing an additional 520,754 shares during the period. World Investment Advisors LLC purchased a new position in shares of Rambus during the 3rd quarter valued at about $989,000. Campbell Newman Asset Management Inc. lifted its holdings in shares of Rambus by 72.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after buying an additional 16,376 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rambus in the third quarter worth about $2,077,000. Hedge funds and other 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.