M&G Plc Purchases New Stake in Rambus Inc. (NASDAQ:RMBS)

M&G PLC bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 233,121 shares of the semiconductor company's stock, valued at approximately $9,791,000. M&G PLC owned approximately 0.22% of Rambus at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Rambus during the 2nd quarter worth about $38,000. Fifth Third Bancorp raised its stake in shares of Rambus by 68.7% during the second 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 last quarter. Blue Trust Inc. lifted its position 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 purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus during the 2nd quarter worth $87,000. Finally, GAMMA Investing LLC grew its holdings in shares of Rambus by 207.1% in 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. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent analyst reports. Susquehanna cut their price objective on shares of Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a report on Friday, July 26th. Rosenblatt Securities reissued a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Finally, Wells Fargo & Company assumed coverage on shares of Rambus in a research report on Wednesday. They issued an "overweight" rating and a $62.00 price target on the stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded down $0.91 during midday trading on Friday, hitting $55.78. 873,897 shares of the stock were exchanged, compared to its average volume of 1,570,106. The company has a market capitalization of $5.94 billion, a PE ratio of 34.65 and a beta of 1.17. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The business's fifty day simple moving average is $42.99 and its two-hundred day simple moving average is $50.58.

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.