Rambus Inc. (NASDAQ:RMBS) Short Interest Update

Rambus Inc. (NASDAQ:RMBS) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,330,000 shares, a growth of 21.1% from the January 15th total of 2,750,000 shares. Based on an average trading volume of 960,900 shares, the short-interest ratio is currently 3.5 days. Approximately 3.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RMBS. Susquehanna raised their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target on the stock. Robert W. Baird assumed coverage on Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. Finally, StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and an average price target of $77.29.

Rambus Stock Up 0.6 %

Shares of NASDAQ:RMBS traded up $0.36 on Monday, reaching $62.96. 872,733 shares of the company’s stock were exchanged, compared to its average volume of 1,060,561. The business’s 50-day moving average is $59.00 and its two-hundred day moving average is $50.65. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $69.15. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 37.93 and a beta of 1.26.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rambus

A number of institutional investors have recently modified their holdings of RMBS. UMB Bank n.a. lifted its holdings in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 640 shares during the period. Quarry LP lifted its holdings in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares during the period. Finally, GeoWealth Management LLC bought a new position in Rambus during the 4th quarter worth $68,000. Institutional investors own 88.54% of the company’s stock.

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.