Rambus Inc. (NASDAQ:RMBS) Sees Large Growth in Short Interest

Rambus Inc. (NASDAQ:RMBS) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 3,450,000 shares, a growth of 24.5% from the October 31st total of 2,770,000 shares. Approximately 3.3% of the company’s shares are sold short. Based on an average trading volume of 1,570,000 shares, the short-interest ratio is currently 2.2 days.

Rambus Stock Up 1.2 %

RMBS opened at $57.81 on Monday. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38. The stock has a market cap of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17. The company has a fifty day moving average of $47.52 and a 200-day moving average of $50.31.

Institutional Investors Weigh In On Rambus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in Rambus by 386.3% in the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after purchasing an additional 229,066 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 32.3% in 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 purchasing an additional 357,160 shares in the last quarter. Swedbank AB increased its stake in Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after purchasing an additional 556,850 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Rambus by 559.4% during the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock worth $1,113,000 after acquiring an additional 16,067 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus during the third quarter worth about $2,077,000. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $74.67.

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.