Rambus (NASDAQ:RMBS) Given New $75.00 Price Target at Jefferies Financial Group

Rambus (NASDAQ:RMBS) had its target price boosted by Jefferies Financial Group from $69.00 to $75.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities increased their target price on shares of Rambus from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen raised shares of Rambus from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 18th. Finally, Susquehanna upped their price target on shares of Rambus from $70.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average target price of $77.71.

Rambus Stock Up 13.9%

Rambus stock opened at $73.15 on Tuesday. Rambus has a twelve month low of $37.42 and a twelve month high of $73.30. The firm has a 50 day moving average price of $61.41 and a 200-day moving average price of $57.44. The company has a market capitalization of $7.86 billion, a P/E ratio of 38.10 and a beta of 1.24.

Insider Transactions at Rambus

In other Rambus news, Director Steven Laub sold 1,847 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, the director directly owned 9,057 shares in the company, valued at $499,221.84. This represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Rambus

Several institutional investors and hedge funds have recently bought and sold shares of RMBS. Price T Rowe Associates Inc. MD lifted its stake in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares in the last quarter. Invesco Ltd. lifted its stake in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. Norges Bank purchased a new stake in Rambus in the 4th quarter worth approximately $94,368,000. EdgePoint Investment Group Inc. purchased a new stake in Rambus in the 1st quarter worth approximately $60,535,000. Finally, Nuveen LLC purchased a new stake in Rambus in the 1st quarter worth approximately $57,084,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.