Rambus (NASDAQ:RMBS) Sets New 52-Week High - What's Next?

Key Points

• Rambus, Inc. shares reached a new 52-week high at $76.09 during trading, with the latest trading price at $75.67.
• Several brokerages have upgraded their ratings, with multiple firms giving a "buy" rating and raising price targets, reflecting positive sentiment about the company's growth prospects.
• Institutional investors have shown strong confidence, with Price T Rowe Associates increasing their holdings by 442.8%, highlighting robust institutional interest in the stock.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $76.09 and last traded at $75.67, with a volume of 68547 shares. The stock had previously closed at $75.73.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research reports. Jefferies Financial Group upped their target price on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Susquehanna boosted their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Wall Street Zen downgraded Rambus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Rosenblatt Securities increased their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Eight 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, Rambus has an average rating of "Buy" and a consensus price target of $77.71.

Rambus Stock Performance

The company has a 50-day moving average of $63.75 and a 200 day moving average of $58.07. The firm has a market cap of $7.68 billion, a P/E ratio of 33.64 and a beta of 1.28.

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the transaction, the director owned 63,371 shares in the company, valued at approximately $4,752,825. The trade was a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director owned 10,904 shares of the company's stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,611 shares of company stock valued at $388,092. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. grew its stake in Rambus by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company's stock valued at $1,310,000 after acquiring an additional 150 shares during the period. Signaturefd LLC raised its stake in Rambus by 14.8% in the second quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company's stock valued at $82,000 after buying an additional 166 shares during the period. Mariner LLC increased its stake in shares of Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of Rambus by 2.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock worth $471,000 after purchasing an additional 179 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Rambus by 3.4% during the second quarter. Dakota Wealth Management now owns 5,681 shares of the semiconductor company's stock worth $364,000 after purchasing an additional 189 shares during the period. 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.