Rambus Inc. (NASDAQ:RMBS) Shares Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC raised its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,382 shares of the semiconductor company’s stock after acquiring an additional 1,319 shares during the quarter. Blueshift Asset Management LLC’s holdings in Rambus were worth $438,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its stake in Rambus by 68.7% in 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 during the last quarter. Chartwell Investment Partners LLC raised its position in Rambus by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock valued at $1,645,000 after purchasing an additional 318 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in Rambus by 4.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock valued at $361,000 after purchasing an additional 350 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Rambus by 11.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 496 shares during the period. Finally, Quarry LP purchased a new position in Rambus during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

RMBS opened at $57.12 on Friday. The business has a 50 day simple moving average of $47.14 and a 200-day simple moving average of $50.42. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The stock has a market capitalization of $6.09 billion, a P/E ratio of 35.48 and a beta of 1.17.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMBS. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday. Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Robert W. Baird initiated coverage on Rambus in a report on Monday. They set an “outperform” rating and a $90.00 price target for the company. Finally, 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $74.67.

Rambus 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.