Swedbank AB Buys 193,150 Shares of Rambus Inc. (NASDAQ:RMBS)

Swedbank AB boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,743,000 shares of the semiconductor company’s stock after buying an additional 193,150 shares during the quarter. Swedbank AB’s holdings in Rambus were worth $73,589,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RMBS. Assenagon Asset Management S.A. boosted its stake in shares of Rambus by 386.3% in the 2nd 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. grew its stake in 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 worth $61,765,000 after buying an additional 357,160 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings 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 buying an additional 16,067 shares in the last quarter. Comerica Bank raised its stake in shares of Rambus by 51.3% in the first quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock valued at $4,289,000 after acquiring an additional 23,526 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Rambus by 230.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 154,173 shares of the semiconductor company’s stock worth $9,679,000 after acquiring an additional 107,500 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on RMBS. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Loop Capital assumed coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $71.60.

Rambus Stock Up 2.7 %

Shares of RMBS opened at $55.96 on Monday. The stock’s fifty day simple moving average is $45.68 and its 200-day simple moving average is $50.35. The firm has a market capitalization of $5.96 billion, a PE ratio of 34.76 and a beta of 1.17. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

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.