Rambus (NASDAQ:RMBS) Given New $92.00 Price Target at Rosenblatt Securities

Rambus (NASDAQ:RMBS - Get Free Report) had its price objective hoisted by research analysts at Rosenblatt Securities from $85.00 to $92.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' target price would suggest a potential upside of 37.31% from the stock's current price.

RMBS has been the subject of several other research reports. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a "buy" rating and a $70.00 price target for the company. Baird R W raised Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Wells Fargo & Company began coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price target for the company. Finally, Robert W. Baird started coverage on Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and an average target price of $77.29.

Rambus Price Performance

Rambus stock traded down $0.28 during trading hours on Tuesday, reaching $67.00. The company had a trading volume of 1,315,431 shares, compared to its average volume of 1,031,432. Rambus has a 12-month low of $37.42 and a 12-month high of $69.15. The company has a 50-day moving average price of $58.26 and a 200 day moving average price of $50.43. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 41.62 and a beta of 1.26.

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated 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 directly owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Institutional Trading of Rambus

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Sanctuary Advisors LLC bought a new position in Rambus during the 2nd quarter valued at about $240,000. SG Americas Securities LLC boosted its holdings in Rambus by 249.7% in the third quarter. SG Americas Securities LLC now owns 31,419 shares of the semiconductor company's stock worth $1,327,000 after purchasing an additional 22,435 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Rambus by 33.9% in the third quarter. Handelsbanken Fonder AB now owns 32,397 shares of the semiconductor company's stock worth $1,368,000 after purchasing an additional 8,200 shares during the last quarter. GAMMA Investing LLC raised its stake in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after buying an additional 1,769 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Rambus by 4.3% during the 3rd quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company's stock valued at $1,142,000 after buying an additional 1,106 shares during the last quarter. 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.