Point72 Asia Singapore Pte. Ltd. Makes New $2.64 Million Investment in Rambus Inc. (NASDAQ:RMBS)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rambus Inc. (NASDAQ:RMBS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 62,599 shares of the semiconductor company’s stock, valued at approximately $2,643,000. Rambus makes up 0.5% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 27th biggest holding.

Several other large investors have also made changes to their positions in RMBS. Quarry LP acquired a new stake in Rambus in the 2nd quarter valued at $38,000. Fifth Third Bancorp lifted its holdings in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. grew its position in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus during the second quarter worth about $87,000. Finally, GAMMA Investing LLC increased its stake in shares of Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 1,769 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Price Performance

RMBS stock opened at $57.81 on Friday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The firm has a market capitalization of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17. The business has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $50.37.

Analyst Ratings Changes

A number of research analysts recently weighed in on RMBS shares. Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Loop Capital assumed coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Robert W. Baird assumed coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Wells Fargo & Company started coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average 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.