Point72 Asia Singapore Pte. Ltd. Invests $2.64 Million in Rambus Inc. (NASDAQ:RMBS)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 62,599 shares of the semiconductor company’s stock, valued at approximately $2,643,000. Rambus comprises 0.5% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 27th biggest position. Point72 Asia Singapore Pte. Ltd. owned 0.06% of Rambus as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Rambus in the second quarter worth about $38,000. Fifth Third Bancorp boosted its stake in 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 purchasing an additional 296 shares in the last quarter. Blue Trust Inc. increased its stake in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the 2nd quarter valued at approximately $87,000. Finally, GAMMA Investing LLC raised its holdings in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Up 1.2 %

Shares of RMBS stock opened at $57.81 on Friday. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The stock has a market cap of $6.16 billion, a PE ratio of 35.91 and a beta of 1.17. The business has a 50-day simple moving average of $47.52 and a 200-day simple moving average of $50.37.

Analysts Set New Price Targets

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

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.