Loop Capital Initiates Coverage on Rambus (NASDAQ:RMBS)

Equities researchers at Loop Capital began coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $70.00 price target on the semiconductor company’s stock. Loop Capital’s target price would indicate a potential upside of 26.42% from the company’s current price.

RMBS has been the subject of a number of other reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Wells Fargo & Company initiated coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Finally, Susquehanna decreased their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rambus has an average rating of “Buy” and an average target price of $71.60.

Rambus Stock Down 0.9 %

Shares of NASDAQ:RMBS opened at $55.37 on Monday. The company has a market capitalization of $5.90 billion, a P/E ratio of 34.39 and a beta of 1.17. The stock’s fifty day simple moving average is $43.21 and its 200-day simple moving average is $50.48. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently modified their holdings of RMBS. Janney Montgomery Scott LLC raised its holdings in Rambus by 2.3% in the first quarter. Janney Montgomery Scott LLC now owns 22,785 shares of the semiconductor company’s stock valued at $1,408,000 after buying an additional 511 shares during the period. SG Americas Securities LLC raised its stake in shares of Rambus by 221.3% in the 1st quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock valued at $826,000 after acquiring an additional 9,200 shares during the period. Sei Investments Co. boosted its position in Rambus by 13.1% during the 1st quarter. Sei Investments Co. now owns 190,480 shares of the semiconductor company’s stock worth $11,774,000 after purchasing an additional 22,060 shares during the period. Russell Investments Group Ltd. increased its holdings in Rambus by 0.7% in the 1st quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock valued at $3,814,000 after purchasing an additional 423 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Rambus by 14.2% in the first quarter. ProShare Advisors LLC now owns 37,659 shares of the semiconductor company’s stock valued at $2,328,000 after purchasing an additional 4,692 shares during the period. 88.54% of the stock is 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.