Baird R W Upgrades Rambus (NASDAQ:RMBS) to “Strong-Buy”

Rambus (NASDAQ:RMBS) was upgraded by research analysts at Baird R W to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

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

Rambus Trading Up 1.5 %

Shares of NASDAQ:RMBS opened at $57.77 on Monday. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38. The stock has a fifty day simple moving average of $46.41 and a two-hundred day simple moving average of $50.32. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 35.88 and a beta of 1.17.

Hedge Funds Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Rambus during the 1st quarter worth approximately $61,377,000. Assenagon Asset Management S.A. lifted its position 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 valued at $53,483,000 after acquiring an additional 978,417 shares in the last quarter. AQR Capital Management LLC raised its stake in Rambus by 559.7% in the 2nd 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 acquired a new stake in shares of Rambus in the third quarter valued at about $18,984,000. Finally, American Century Companies Inc. boosted its position 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 acquiring 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.