Harbor Capital Advisors Inc. Boosts Stake in Rambus Inc. (NASDAQ:RMBS)

Harbor Capital Advisors Inc. lifted its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,914 shares of the semiconductor company’s stock after acquiring an additional 23,269 shares during the quarter. Harbor Capital Advisors Inc. owned 0.08% of Rambus worth $4,541,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after purchasing an additional 164,830 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock worth $110,693,000 after buying an additional 21,053 shares during the last quarter. Hood River Capital Management LLC raised its holdings in Rambus by 5.7% in the second quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock valued at $127,248,000 after acquiring an additional 116,976 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Rambus by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after acquiring an additional 158,259 shares during the last quarter. Finally, Swedbank AB grew its holdings in Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock worth $73,589,000 after acquiring an additional 193,150 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS opened at $56.23 on Friday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The firm has a fifty day moving average of $55.59 and a 200-day moving average of $50.36. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 34.93 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMBS. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Wells Fargo & Company initiated coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price 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 target on the stock. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Finally, Robert W. Baird began coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 target price for the company. Six investment 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.com, Rambus currently has a consensus rating of “Buy” and an average price target of $74.67.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. The trade was 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 through the SEC website. 1.00% of the stock is owned by company insiders.

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.