Rambus (NASDAQ:RMBS) Share Price Passes Above 200-Day Moving Average - Here's Why

Rambus Inc. (NASDAQ:RMBS - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $50.25 and traded as high as $57.12. Rambus shares last traded at $57.08, with a volume of 568,515 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Robert W. Baird started coverage on shares of Rambus in a report on Monday, November 25th. They issued an "outperform" rating and a $90.00 target price for the company. Baird R W upgraded Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price target for the company. Finally, Loop Capital started coverage on shares of Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of "Buy" and a consensus price target of $74.67.

Rambus Stock Performance

The firm has a 50 day simple moving average of $55.43 and a 200 day simple moving average of $50.34. The firm has a market cap of $6.08 billion, a P/E ratio of 35.45 and a beta of 1.23.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after buying an additional 264 shares during the period. Chartwell Investment Partners LLC lifted its position in Rambus by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company's stock valued at $1,645,000 after purchasing an additional 318 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Rambus by 4.3% during the third quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock valued at $361,000 after purchasing an additional 350 shares during the period. GAMMA Investing LLC grew its holdings in shares of Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock worth $166,000 after purchasing an additional 514 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Rambus by 15.8% in the third quarter. Coldstream Capital Management Inc. now owns 5,285 shares of the semiconductor company's stock worth $223,000 after buying an additional 722 shares during the period. 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.