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Rambus (NASDAQ:RMBS) Hits New 52-Week High on Analyst Upgrade

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Key Points

  • Rambus (NASDAQ:RMBS) reached a new **52-week high** following an upgrade from Susquehanna, raising its price target from **$70.00 to $75.00**.
  • Six analysts now rate Rambus as a **buy**, with a consensus target price of **$76.50**.
  • Insider trading activity included Director **Steven Laub** selling **3,653 shares** at an average price of **$55.56**, resulting in a **25.09% decrease** in his holdings.
  • Five stocks we like better than Rambus.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) reached a new 52-week high on Tuesday after Jefferies Financial Group raised their price target on the stock from $69.00 to $75.00. Jefferies Financial Group currently has a buy rating on the stock. Rambus traded as high as $71.36 and last traded at $70.61, with a volume of 762630 shares changing hands. The stock had previously closed at $64.24.

RMBS has been the subject of a number of other reports. Susquehanna upped their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday. Rosenblatt Securities upped their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Rambus from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $77.71.

Check Out Our Latest Analysis on RMBS

Insider Activity at Rambus

In other news, Director Steven Laub sold 3,653 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director owned 10,904 shares of the company's stock, valued at $605,826.24. This represents a 25.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

Several large investors have recently modified their holdings of RMBS. Sequoia Financial Advisors LLC boosted its position in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after purchasing an additional 808 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock worth $554,000 after purchasing an additional 3,711 shares during the period. KBC Group NV boosted its position in shares of Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock worth $247,000 after purchasing an additional 757 shares during the period. GAMMA Investing LLC boosted its position in shares of Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock worth $237,000 after purchasing an additional 1,436 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Rambus by 57.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company's stock worth $358,000 after purchasing an additional 2,522 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

The stock has a market cap of $7.78 billion, a PE ratio of 34.16 and a beta of 1.24. The stock's 50-day moving average is $62.20 and its two-hundred day moving average is $57.68.

Rambus Company Profile

(Get Free Report)

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.

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