Robert W. Baird Boosts Rambus (NASDAQ:RMBS) Price Target to $120.00

Rambus (NASDAQ:RMBS) had its price target raised by Robert W. Baird from $90.00 to $120.00 in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Other analysts have also issued research reports about the stock. Arete Research raised shares of Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group lifted their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Susquehanna increased their price objective on Rambus from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, July 29th. Rosenblatt Securities raised their target price on Rambus from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, Rambus presently has a consensus rating of “Buy” and a consensus target price of $93.50.

Rambus Stock Performance

Rambus stock opened at $97.52 on Monday. The stock has a market cap of $10.49 billion, a PE ratio of 46.00 and a beta of 1.38. Rambus has a fifty-two week low of $38.01 and a fifty-two week high of $100.73. The firm’s 50-day simple moving average is $73.74 and its 200 day simple moving average is $61.13.

Insider Activity

In related news, Director Necip Sayiner sold 7,500 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $85.63, for a total value of $642,225.00. Following the sale, the director owned 30,824 shares in the company, valued at approximately $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the sale, the director directly owned 29,914 shares of the company’s stock, valued at $2,145,432.08. This represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,260 shares of company stock worth $2,407,852. Insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

A number of large investors have recently modified their holdings of RMBS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rambus by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock valued at $9,472,000 after purchasing an additional 17,282 shares in the last quarter. Park West Asset Management LLC purchased a new stake in shares of Rambus during the 1st quarter valued at $30,503,000. Sequoia Financial Advisors LLC lifted its holdings 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 acquiring an additional 808 shares during the last quarter. Blair William & Co. IL purchased a new position in Rambus in the first quarter worth $235,000. Finally, Allspring Global Investments Holdings LLC grew its position in Rambus by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company’s stock worth $554,000 after acquiring an additional 3,711 shares in the last quarter. 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.