Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Bridgewater Associates LP

Bridgewater Associates LP increased its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 1,150.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,148 shares of the semiconductor company's stock after purchasing an additional 56,259 shares during the period. Bridgewater Associates LP owned approximately 0.06% of Rambus worth $2,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Quarry LP bought a new stake in Rambus during the 2nd quarter valued at approximately $38,000. 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 worth $43,000 after purchasing an additional 296 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 acquiring an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus during the second quarter valued at $87,000. Finally, GAMMA Investing LLC raised its stake in shares of Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after acquiring an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded up $0.69 during trading hours on Friday, reaching $57.81. The stock had a trading volume of 574,108 shares, compared to its average volume of 945,433. The firm's 50 day moving average is $47.52 and its 200-day moving average is $50.37. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 35.91 and a beta of 1.17. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38.

Analysts Set New Price Targets

RMBS has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Baird R W upgraded Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Wells Fargo & Company assumed coverage on Rambus in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price objective for the company. Robert W. Baird initiated coverage on Rambus in a research report on Monday, November 25th. They set an "outperform" rating and a $90.00 price target for the company. Finally, Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They issued a "buy" rating and a $70.00 target price for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price 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.