Janus Henderson Group PLC Boosts Position in Rambus Inc. (NASDAQ:RMBS)

Janus Henderson Group PLC increased its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 597.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 351,801 shares of the semiconductor company's stock after buying an additional 301,394 shares during the quarter. Janus Henderson Group PLC owned about 0.33% of Rambus worth $14,852,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RMBS. Fifth Third Bancorp grew its stake in shares of Rambus by 68.7% during 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. Chartwell Investment Partners LLC grew its holdings in Rambus by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company's stock valued at $1,645,000 after purchasing an additional 318 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock valued at $361,000 after acquiring an additional 350 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Rambus by 11.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company's stock worth $294,000 after acquiring an additional 496 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Rambus in the second quarter valued at about $38,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RMBS. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Wells Fargo & Company initiated coverage on Rambus in a report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target for the company. 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. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Finally, Robert W. Baird started coverage on shares of Rambus in a research note on Monday, November 25th. They set an "outperform" rating and a $90.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $74.67.

Rambus Stock Up 2.3 %

Shares of RMBS stock traded up $1.31 during trading hours on Friday, hitting $58.83. 641,031 shares of the company were exchanged, compared to its average volume of 787,251. The firm has a fifty day moving average of $49.38 and a 200 day moving average of $50.30. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The firm has a market cap of $6.27 billion, a PE ratio of 36.54 and a beta of 1.22.

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.