Fintel reports that on November 6, 2024, Wells Fargo initiated coverage of Rambus (NasdaqGS:RMBS) with a Overweight recommendation.
Analyst Price Forecast Suggests 17.52% Upside
As of October 22, 2024, the average one-year price target for Rambus is $67.83/share. The forecasts range from a low of $50.50 to a high of $89.25. The average price target represents an increase of 17.52% from its latest reported closing price of $57.72 / share.
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The projected annual revenue for Rambus is 683MM, an increase of 31.97%. The projected annual non-GAAP EPS is 1.77.
What is the Fund Sentiment?
There are 864 funds or institutions reporting positions in Rambus. This is an decrease of 12 owner(s) or 1.37% in the last quarter. Average portfolio weight of all funds dedicated to RMBS is 0.25%, an increase of 10.83%. Total shares owned by institutions increased in the last three months by 0.34% to 119,421K shares. 
The put/call ratio of RMBS is 0.50, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 6,594K shares representing 6.19% ownership of the company. In its prior filing, the firm reported owning 6,505K shares , representing an increase of 1.36%. The firm decreased its portfolio allocation in RMBS by 6.40% over the last quarter.
Wellington Management Group Llp holds 6,203K shares representing 5.82% ownership of the company. In its prior filing, the firm reported owning 4,118K shares , representing an increase of 33.62%. The firm increased its portfolio allocation in RMBS by 44.30% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,398K shares representing 3.19% ownership of the company. In its prior filing, the firm reported owning 3,382K shares , representing an increase of 0.46%. The firm decreased its portfolio allocation in RMBS by 7.12% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,352K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 3,347K shares , representing an increase of 0.16%. The firm decreased its portfolio allocation in RMBS by 2.53% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,711K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 2,744K shares , representing a decrease of 1.20%. The firm decreased its portfolio allocation in RMBS by 1.46% over the last quarter.
Rambus Background Information
(This description is provided by the company.)
Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, it is a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world's data needs and drive ever-greater end-user experiences.
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This story originally appeared on Fintel.
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