Glenmede Trust Co. NA Increases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Glenmede Trust Co. NA lifted its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,910 shares of the semiconductor company's stock after purchasing an additional 75,908 shares during the quarter. Glenmede Trust Co. NA owned 0.29% of Rambus worth $13,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in Rambus in the 2nd quarter valued at $38,000. Fifth Third Bancorp lifted its holdings in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. lifted its holdings in Rambus by 240.6% in 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. purchased a new position in Rambus in the 2nd quarter valued at $87,000. Finally, GAMMA Investing LLC raised 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 worth $111,000 after acquiring an additional 1,769 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Trading Up 1.2 %

Shares of RMBS stock traded up $0.69 during mid-day trading on Friday, reaching $57.81. The stock had a trading volume of 574,107 shares, compared to its average volume of 1,524,122. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The company has a market cap of $6.16 billion, a P/E ratio of 35.91 and a beta of 1.17. The business has a 50-day simple moving average of $47.14 and a 200 day simple moving average of $50.42.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird assumed coverage on Rambus in a report on Monday. They set an "outperform" rating and a $90.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Loop Capital assumed coverage on Rambus in a research report on Monday, November 11th. They set a "buy" rating and a $70.00 price objective for the company. Baird R W raised Rambus to a "strong-buy" rating in a research report on Monday. Finally, Wells Fargo & Company initiated coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price objective 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 data from MarketBeat.com, Rambus has an average rating of "Buy" and a consensus price target of $74.67.

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.