Analysts Set Rambus Inc. (NASDAQ:RMBS) Target Price at $74.67

Shares of Rambus Inc. (NASDAQ:RMBS) have earned a consensus recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $74.67.

RMBS has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Wells Fargo & Company initiated coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th.

Rambus Price Performance

Shares of RMBS stock opened at $57.81 on Monday. The business’s 50 day simple moving average is $47.52 and its 200 day simple moving average is $50.31. Rambus has a one year low of $37.42 and a one year high of $76.38. The stock has a market capitalization of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17.

Hedge Funds Weigh In On Rambus

A number of large investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in shares of Rambus by 7.2% during the third quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company’s stock valued at $18,612,000 after purchasing an additional 27,764 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Rambus during the third quarter valued at $989,000. Sanctuary Advisors LLC grew its holdings in Rambus by 30.2% during the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 1,228 shares during the period. Virtu Financial LLC bought a new stake in Rambus during the third quarter valued at about $407,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Rambus by 6.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 63,922 shares of the semiconductor company’s stock worth $2,699,000 after acquiring an additional 3,775 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.