Rambus (NASDAQ:RMBS) Coverage Initiated at Loop Capital

Loop Capital started coverage on shares of Rambus (NASDAQ:RMBS) in a report issued on Monday, Marketbeat reports. The brokerage issued a buy rating and a $70.00 price objective on the semiconductor company’s stock.

RMBS has been the topic of several other research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Susquehanna dropped their target price on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Finally, Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $71.60.

Rambus Trading Down 1.8 %

RMBS opened at $53.35 on Monday. Rambus has a 1-year low of $37.42 and a 1-year high of $76.38. The company has a market cap of $5.69 billion, a price-to-earnings ratio of 33.14 and a beta of 1.17. The company’s fifty day moving average price is $43.78 and its two-hundred day moving average price is $50.48.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in Rambus in the 2nd quarter valued at $38,000. Fifth Third Bancorp grew its position in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. increased its holdings in Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after buying an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Rambus in the second quarter worth about $87,000. Finally, GAMMA Investing LLC boosted its stake in Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.