Y Intercept Hong Kong Ltd Grows Position in Rambus Inc. (NASDAQ:RMBS)

Y Intercept Hong Kong Ltd boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 14.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,995 shares of the semiconductor company’s stock after purchasing an additional 4,734 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rambus were worth $1,604,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Quarry LP acquired a new position in Rambus during the second quarter valued at approximately $38,000. Fifth Third Bancorp lifted its position 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 buying an additional 296 shares in the last quarter. Blue Trust Inc. lifted its position in Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC lifted its position in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on RMBS. Wells Fargo & Company began coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target on the stock. 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 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Buy” and an average target price of $74.67.

Rambus Price Performance

RMBS opened at $57.99 on Wednesday. The stock has a market capitalization of $6.18 billion, a PE ratio of 36.02 and a beta of 1.22. The firm’s fifty day moving average price is $50.06 and its 200 day moving average price is $50.34. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

About Rambus

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.