Citigroup Inc. Lowers Holdings in Rambus Inc. (NASDAQ:RMBS)

Citigroup Inc. lessened its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 83.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,915 shares of the semiconductor company's stock after selling 564,655 shares during the period. Citigroup Inc. owned 0.11% of Rambus worth $4,767,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Quarry LP bought a new stake in Rambus in the second quarter valued at $38,000. Fifth Third Bancorp boosted its holdings 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 acquiring an additional 296 shares in the last quarter. Blue Trust Inc. grew its stake in Rambus by 240.6% in the second 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. bought a new stake in shares of Rambus during the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC raised its position 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 worth $111,000 after purchasing an additional 1,769 shares during the period. Institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

RMBS traded down $0.23 during midday trading on Tuesday, reaching $58.64. The company had a trading volume of 657,729 shares, compared to its average volume of 1,518,092. The business has a 50-day moving average price of $48.33 and a two-hundred day moving average price of $50.32. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The stock has a market cap of $6.25 billion, a PE ratio of 36.42 and a beta of 1.22.

Analyst Ratings Changes

Several brokerages have recently commented on RMBS. Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They issued a "buy" rating and a $70.00 price objective for the company. 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. Wells Fargo & Company assumed coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 target price for the company. Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They set an "outperform" rating and a $90.00 price target on the stock. Finally, Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.