Short Interest in Rambus Inc. (NASDAQ:RMBS) Grows By 21.1%

Rambus Inc. (NASDAQ:RMBS) was the recipient of a significant growth in short interest in 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 daily volume of 960,900 shares, the short-interest ratio is currently 3.5 days. Currently, 3.2% of the company’s shares are short sold.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMBS. Lindbrook Capital LLC increased its stake in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the period. Mariner LLC boosted its holdings in shares of Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 167 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Rambus by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its holdings in Rambus by 0.7% during the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after buying an additional 202 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after buying an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RMBS. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Susquehanna increased their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective for the company. Finally, Rosenblatt Securities increased their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $77.29.

Rambus Stock Up 0.6 %

RMBS stock traded up $0.36 during midday trading on Friday, hitting $62.96. The company’s stock had a trading volume of 872,733 shares, compared to its average volume of 1,060,561. Rambus has a 52-week low of $37.42 and a 52-week high of $69.15. The firm has a market capitalization of $6.71 billion, a P/E ratio of 37.93 and a beta of 1.26. The firm has a 50-day simple moving average of $58.91 and a 200-day simple moving average of $50.59.

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.