Rambus (NASDAQ:RMBS) Price Target Raised to $70.00 at Susquehanna

Rambus (NASDAQ:RMBS) had its price target upped by Susquehanna from $66.00 to $70.00 in a research note released on Tuesday morning,Benzinga reports. Susquehanna currently has a positive rating on the semiconductor company’s stock.

RMBS has been the topic of a number of other research reports. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird started coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Evercore ISI initiated coverage on Rambus in a report on Tuesday. They issued an “outperform” rating and a $71.00 target price for the company. Finally, 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. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $77.29.

Rambus Stock Performance

NASDAQ:RMBS opened at $64.44 on Tuesday. The company has a market capitalization of $6.87 billion, a P/E ratio of 40.03 and a beta of 1.26. The stock’s 50 day moving average price is $57.84 and its 200 day moving average price is $50.19. Rambus has a 52 week low of $37.42 and a 52 week high of $69.89.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Rambus

Several large investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. grew its position in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares during the last quarter. SG Americas Securities LLC grew its position in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after buying an additional 520,754 shares in the last quarter. World Investment Advisors LLC bought a new position in Rambus during the third quarter valued at about $989,000. Campbell Newman Asset Management Inc. raised its holdings in Rambus by 72.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock valued at $2,064,000 after acquiring an additional 16,376 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus in the 3rd quarter worth approximately $2,077,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.