Point72 DIFC Ltd Takes Position in Rambus Inc. (NASDAQ:RMBS)

Point72 DIFC Ltd acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,963 shares of the semiconductor company’s stock, valued at approximately $801,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cetera Advisors LLC purchased a new position in shares of Rambus in the 1st quarter worth about $215,000. CWM LLC raised its stake in Rambus by 15.5% in the second quarter. CWM LLC now owns 5,676 shares of the semiconductor company’s stock worth $333,000 after buying an additional 763 shares in the last quarter. Simplicity Wealth LLC lifted its stake in shares of Rambus by 6.4% in the 2nd quarter. Simplicity Wealth LLC now owns 11,699 shares of the semiconductor company’s stock valued at $687,000 after purchasing an additional 702 shares during the period. Diversified Trust Co lifted its position in Rambus by 11.8% during the second quarter. Diversified Trust Co now owns 25,943 shares of the semiconductor company’s stock valued at $1,524,000 after buying an additional 2,744 shares during the period. Finally, Great Valley Advisor Group Inc. purchased a new position in Rambus during the 2nd quarter valued at about $482,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Rambus Stock Performance

RMBS stock opened at $57.52 on Friday. The firm has a fifty day moving average price of $49.04 and a 200 day moving average price of $50.43. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The firm has a market cap of $6.13 billion, a PE ratio of 35.73 and a beta of 1.22.

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.