Rambus Inc. (NASDAQ:RMBS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Rambus Inc. (NASDAQ:RMBS) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,621,342 shares of the semiconductor company’s stock after buying an additional 21,053 shares during the quarter. Geode Capital Management LLC’s holdings in Rambus were worth $110,693,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its stake in Rambus by 32.3% during the 3rd 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 during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rambus in the third quarter valued at approximately $2,077,000. Assenagon Asset Management S.A. grew its position in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after acquiring an additional 978,417 shares during the last quarter. FORA Capital LLC increased its holdings in shares of 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 period. Finally, Glenmede Trust Co. NA raised its position in Rambus by 32.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 311,910 shares of the semiconductor company’s stock valued at $13,169,000 after purchasing an additional 75,908 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Rambus Trading Down 5.8 %

NASDAQ RMBS opened at $54.83 on Thursday. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.06 and a beta of 1.22. The business’s 50 day moving average is $52.07 and its two-hundred day moving average is $50.47. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMBS. Robert W. Baird started coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Rambus in a research report 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. Finally, Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Six equities research 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 a consensus rating of “Buy” and a consensus 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.