Rambus Inc. (NASDAQ:RMBS) Shares Bought by State Street Corp

State Street Corp grew its stake in Rambus Inc. (NASDAQ:RMBS) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,819,125 shares of the semiconductor company’s stock after purchasing an additional 164,830 shares during the quarter. State Street Corp owned approximately 4.52% of Rambus worth $203,463,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake 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 worth $16,944,000 after purchasing an additional 229,066 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Rambus by 32.3% in 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 in the last quarter. Swedbank AB boosted its position in Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock worth $91,069,000 after acquiring an additional 556,850 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Rambus during the 3rd quarter valued at about $2,077,000. Finally, FORA Capital LLC raised its holdings in Rambus by 63.7% in the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock valued at $1,701,000 after acquiring an additional 15,671 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rambus Trading Down 1.6 %

NASDAQ RMBS opened at $58.10 on Friday. The stock has a fifty day simple moving average of $50.79 and a 200-day simple moving average of $50.45. The stock has a market cap of $6.19 billion, a PE ratio of 36.09 and a beta of 1.22. Rambus Inc. has a twelve month low of $37.42 and a twelve 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.