Rambus (NASDAQ:RMBS) Earns Outperform Rating from Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of Rambus (NASDAQ:RMBS) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $90.00 price target on the semiconductor company’s stock.

RMBS has been the subject of several other reports. Loop Capital assumed coverage on shares of Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $74.67.

Rambus Stock Performance

NASDAQ RMBS opened at $57.12 on Monday. The stock has a market cap of $6.09 billion, a P/E ratio of 35.48 and a beta of 1.17. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The stock has a 50 day simple moving average of $46.78 and a two-hundred day simple moving average of $50.37.

Institutional Investors Weigh In On Rambus

Several large investors have recently bought and sold shares of RMBS. Swedbank AB bought a new position in Rambus during the 1st quarter valued at about $61,377,000. Assenagon Asset Management S.A. grew its stake in shares of Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after acquiring an additional 978,417 shares during the period. AQR Capital Management LLC raised its holdings in shares of Rambus by 559.7% during 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 last quarter. Point72 Hong Kong Ltd bought a new position in Rambus during the third quarter valued at approximately $18,984,000. Finally, American Century Companies Inc. boosted its holdings in Rambus by 63.8% in 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 during the last quarter. 88.54% of the stock is currently owned by 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.