Wells Fargo & Company Begins Coverage on Rambus (NASDAQ:RMBS)

Wells Fargo & Company initiated coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $62.00 price target on the semiconductor company’s stock.

Several other equities analysts have also weighed in on RMBS. Susquehanna dropped their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th.

Rambus Stock Down 1.6 %

Shares of NASDAQ RMBS opened at $55.78 on Wednesday. The business’s 50 day moving average price is $42.99 and its two-hundred day moving average price is $50.54. The company has a market cap of $5.94 billion, a PE ratio of 34.65 and a beta of 1.17. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38.

Institutional Investors Weigh In On Rambus

A number of large investors have recently added to or reduced their stakes in RMBS. Quarry LP acquired a new position in Rambus in the 2nd quarter valued at $38,000. Fifth Third Bancorp increased its position in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. increased its position in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus in the second quarter valued at about $87,000. Finally, GAMMA Investing LLC lifted its position in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 1,769 shares during the period. Institutional investors and hedge funds 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.