Holocene Advisors LP Invests $608,000 in Rambus Inc. (NASDAQ:RMBS)

Holocene Advisors LP purchased a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,402 shares of the semiconductor company's stock, valued at approximately $608,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new position in shares of Rambus in the 1st quarter valued at $215,000. CWM LLC boosted its position in shares of Rambus by 15.5% during the second quarter. CWM LLC now owns 5,676 shares of the semiconductor company's stock worth $333,000 after purchasing an additional 763 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Rambus by 6.4% during the second quarter. Simplicity Wealth LLC now owns 11,699 shares of the semiconductor company's stock worth $687,000 after purchasing an additional 702 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Rambus by 11.8% during the second quarter. Diversified Trust Co now owns 25,943 shares of the semiconductor company's stock worth $1,524,000 after acquiring an additional 2,744 shares during the period. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Rambus during the second quarter worth $482,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Price Performance

Shares of NASDAQ:RMBS traded up $1.31 during trading on Friday, hitting $58.83. 641,031 shares of the company's stock were exchanged, compared to its average volume of 787,251. The business's 50-day simple moving average is $49.38 and its 200 day simple moving average is $50.30. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 36.54 and a beta of 1.22. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMBS. Rosenblatt Securities reiterated a "buy" rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Robert W. Baird began coverage on Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price objective on the stock. Loop Capital assumed coverage on Rambus in a research note on Monday, November 11th. They set a "buy" rating and a $70.00 price objective on the stock. Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price objective on the stock. Finally, Baird R W upgraded 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and a consensus price target 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.