Rambus (NASDAQ:RMBS) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Key Points

• Rosenblatt Securities has increased Rambus' price target from $80.00 to $90.00, reflecting a potential upside of 23.60% from the company's previous close.
• Rambus stock has seen significant support, with a consensus rating of "Buy" from six analysts and "Strong-Buy" from two analysts.
• Rambus shares traded up 13.3%, reaching $72.82 during the trading session on Tuesday.

Rambus (NASDAQ:RMBS - Get Free Report) had its price objective boosted by investment analysts at Rosenblatt Securities from $80.00 to $90.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Rosenblatt Securities' target price indicates a potential upside of 26.33% from the stock's previous close.

A number of other research firms also recently issued reports on RMBS. Susquehanna lifted their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday. Wall Street Zen raised Rambus from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $77.71.

Rambus Trading Down 3.6%

Shares of Rambus stock traded down $2.69 during trading on Tuesday, reaching $71.24. The stock had a trading volume of 601,673 shares, compared to its average volume of 1,045,454. The stock has a fifty day moving average price of $62.20 and a two-hundred day moving average price of $57.68. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 33.58 and a beta of 1.24. Rambus has a 52 week low of $37.42 and a 52 week high of $76.07.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 1,847 shares of Rambus stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the transaction, the director directly owned 9,057 shares of the company's stock, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise acquired a new position in Rambus in the first quarter worth $25,000. Tsfg LLC acquired a new position in Rambus in the first quarter worth $26,000. Orion Capital Management LLC acquired a new position in Rambus in the fourth quarter worth $37,000. McIlrath & Eck LLC acquired a new position in Rambus in the first quarter worth $42,000. Finally, Larson Financial Group LLC raised its stake in shares of Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Company Profile

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.