Geode Capital Management LLC Raises Holdings in Rambus Inc. (NASDAQ:RMBS)

Geode Capital Management LLC grew its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,621,342 shares of the semiconductor company's stock after buying an additional 21,053 shares during the period. Geode Capital Management LLC owned approximately 2.46% of Rambus worth $110,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in Rambus in the 2nd quarter worth about $38,000. Fifth Third Bancorp grew its position 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 during the period. Blue Trust Inc. grew its position in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rambus during the 2nd quarter valued at $87,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after buying an additional 1,769 shares during the period. Institutional investors own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ RMBS traded down $1.21 during midday trading on Thursday, reaching $53.62. The stock had a trading volume of 1,611,273 shares, compared to its average volume of 1,484,204. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The stock has a 50-day moving average of $52.07 and a 200-day moving average of $50.47. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 33.30 and a beta of 1.22.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price objective for the company. 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 for the company. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Finally, 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 target price for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rambus currently has a consensus 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.