M&G Plc Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

M&G Plc purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 233,121 shares of the semiconductor company’s stock, valued at approximately $9,791,000.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RMBS shares. Susquehanna lowered their target price on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company began coverage on shares of Rambus in a research report on Wednesday. They set an “overweight” rating and a $62.00 target price for the company.

Rambus Stock Performance

Rambus stock opened at $56.69 on Friday. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The stock has a fifty day moving average of $42.77 and a two-hundred day moving average of $50.57. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 35.21 and a beta of 1.17.

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.