Rambus (NASDAQ:RMBS) Price Target Raised to $126.00

Rambus (NASDAQ:RMBS) had its target price boosted by Evercore ISI from $114.00 to $126.00 in a report published on Tuesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the semiconductor company’s stock.

RMBS has been the subject of several other research reports. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a report on Monday, October 6th. Robert W. Baird increased their price objective on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Weiss Ratings upgraded shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $103.38.

Rambus Price Performance

Shares of RMBS opened at $107.75 on Tuesday. Rambus has a 1 year low of $40.12 and a 1 year high of $114.55. The company has a market capitalization of $11.59 billion, a price-to-earnings ratio of 51.07 and a beta of 1.46. The business has a 50-day moving average of $93.06 and a 200-day moving average of $71.78.

Insider Activity at Rambus

In other news, Director Emiko Higashi sold 1,075 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the transaction, the director owned 62,296 shares in the company, valued at approximately $4,843,514. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer directly owned 64,430 shares in the company, valued at $5,908,231. This trade represents a 12.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,913 shares of company stock valued at $2,474,452. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Rambus by 45.8% during the first quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company’s stock valued at $237,000 after buying an additional 1,436 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Rambus by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 2,522 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Rambus by 4.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 266 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company’s stock valued at $261,000 after purchasing an additional 808 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rambus by 781.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,979 shares of the semiconductor company’s stock worth $1,878,000 after purchasing an additional 31,011 shares during the last quarter. Institutional investors and hedge funds 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.