Wells Fargo & Company Initiates Coverage on Rambus (NASDAQ:RMBS)

Wells Fargo & Company started coverage on shares of Rambus (NASDAQ:RMBS) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $62.00 price target on the semiconductor company’s stock.

A number of other research firms also recently commented on RMBS. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Susquehanna dropped their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th.

Rambus Stock Up 14.8 %

RMBS opened at $57.70 on Wednesday. The company has a market capitalization of $6.15 billion, a PE ratio of 35.84 and a beta of 1.17. The firm has a 50-day simple moving average of $42.51 and a two-hundred day simple moving average of $50.53. Rambus has a 52 week low of $37.42 and a 52 week high of $76.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Rambus during the 1st quarter worth about $61,377,000. Assenagon Asset Management S.A. lifted its stake in 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 purchasing an additional 978,417 shares during the last quarter. AQR Capital Management LLC lifted its stake in Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after purchasing an additional 486,078 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock valued at $61,897,000 after buying an additional 410,332 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after buying an additional 357,160 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

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.