Westfield Capital Management Co. LP Buys 356,496 Shares of Rambus Inc. (NASDAQ:RMBS)

Westfield Capital Management Co. LP grew its stake in Rambus Inc. (NASDAQ:RMBS) by 65.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 902,236 shares of the semiconductor company’s stock after acquiring an additional 356,496 shares during the quarter. Westfield Capital Management Co. LP owned 0.85% of Rambus worth $38,092,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in Rambus by 386.3% during 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 during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings 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. Swedbank AB increased its position in shares of Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after acquiring an additional 556,850 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Rambus by 559.4% in the 2nd 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 during the last quarter. Finally, Comerica Bank lifted its position in Rambus by 51.3% in the 1st 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 in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Rambus Trading Up 2.7 %

Shares of RMBS stock opened at $55.96 on Monday. The company has a 50 day simple moving average of $45.68 and a two-hundred day simple moving average of $50.35. The stock has a market cap of $5.96 billion, a P/E 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 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.