Rambus (NASDAQ:RMBS) Shares Gap Up – What’s Next?

Rambus Inc. (NASDAQ:RMBS) shares gapped up prior to trading on Tuesday . The stock had previously closed at $56.89, but opened at $60.72. Rambus shares last traded at $59.02, with a volume of 133,877 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on RMBS. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday. Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective on the stock. Robert W. Baird began coverage on shares of Rambus in a research note on Monday. They set an “outperform” rating and a $90.00 target price for the company. Finally, Wells Fargo & Company assumed coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $74.67.

Rambus Price Performance

The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 35.48 and a beta of 1.17. The firm has a fifty day moving average of $46.78 and a 200 day moving average of $50.37.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently bought and sold shares of RMBS. Swedbank AB acquired a new position in shares of Rambus in the 1st quarter valued at $61,377,000. Assenagon Asset Management S.A. boosted its position in shares of Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the period. AQR Capital Management LLC raised its position in Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after purchasing an additional 486,078 shares during the period. Point72 Hong Kong Ltd acquired a new position in Rambus during the third quarter worth $18,984,000. Finally, American Century Companies Inc. lifted its stake in Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after purchasing an additional 410,332 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.