Wells Fargo & Company Issues Positive Forecast for Rambus (NASDAQ:RMBS) Stock Price

Rambus (NASDAQ:RMBS - Get Free Report) had its price objective upped by equities researchers at Wells Fargo & Company from $62.00 to $73.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the semiconductor company's stock. Wells Fargo & Company's price objective points to a potential upside of 9.20% from the stock's previous close.

RMBS has been the subject of several other reports. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They issued a "buy" rating and a $70.00 target price on the stock. Evercore ISI began coverage on Rambus in a research note on Tuesday. They issued an "outperform" rating and a $71.00 target price on the stock. Robert W. Baird started coverage on shares of Rambus in a research report on Monday, November 25th. They set an "outperform" rating and a $90.00 price target for the company. Finally, Baird R W upgraded shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $77.29.

Rambus Stock Performance

Shares of NASDAQ RMBS traded down $0.43 during midday trading on Tuesday, hitting $66.85. The company's stock had a trading volume of 1,086,091 shares, compared to its average volume of 1,012,579. Rambus has a 1-year low of $37.42 and a 1-year high of $69.15. The firm's fifty day moving average price is $58.26 and its 200-day moving average price is $50.43. The firm has a market cap of $7.12 billion, a P/E ratio of 41.52 and a beta of 1.26.

Insiders Place Their Bets

In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Rambus

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Rambus by 17.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,129 shares of the semiconductor company's stock valued at $1,540,000 after acquiring an additional 4,224 shares during the last quarter. Amundi purchased a new stake in shares of Rambus during the fourth quarter valued at $1,163,000. PNC Financial Services Group Inc. boosted its position in shares of Rambus by 71.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,284 shares of the semiconductor company's stock valued at $861,000 after purchasing an additional 6,781 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Rambus by 7.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company's stock worth $252,000 after purchasing an additional 317 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after buying an additional 166 shares during the period. 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.