Algert Global LLC Grows Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Algert Global LLC grew its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 164.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 259,341 shares of the semiconductor company’s stock after acquiring an additional 161,348 shares during the period. Algert Global LLC owned 0.24% of Rambus worth $10,949,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its holdings in Rambus by 69.5% during the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock worth $701,000 after purchasing an additional 6,814 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Rambus by 4.3% during the third quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock valued at $361,000 after buying an additional 350 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Rambus by 1.0% in the third quarter. Eagle Asset Management Inc. now owns 722,773 shares of the semiconductor company’s stock worth $30,515,000 after buying an additional 7,168 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Rambus in the third quarter worth about $677,000. Finally, Intech Investment Management LLC bought a new position in shares of Rambus in the third quarter valued at approximately $3,849,000. 88.54% of the stock is owned by institutional investors.

Rambus Stock Performance

Rambus stock opened at $55.96 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 market cap of $5.96 billion, a P/E ratio of 34.76 and a beta of 1.17. The firm’s fifty day moving average price is $45.68 and its 200-day moving average price is $50.39.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Susquehanna decreased their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rambus has a consensus rating of “Buy” and a consensus target price of $71.60.

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.