Harbor Capital Advisors Inc. Increases Stock Position in Rambus Inc. (NASDAQ:RMBS)

Harbor Capital Advisors Inc. raised its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 230.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,645 shares of the semiconductor company's stock after buying an additional 43,706 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of Rambus worth $2,645,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Rambus by 37.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 421,917 shares of the semiconductor company's stock valued at $17,813,000 after buying an additional 115,222 shares during the period. Rice Hall James & Associates LLC increased its stake in Rambus by 28.5% during the third quarter. Rice Hall James & Associates LLC now owns 68,243 shares of the semiconductor company's stock worth $2,881,000 after purchasing an additional 15,148 shares during the period. US Bancorp DE increased its stake in Rambus by 19.4% during the third quarter. US Bancorp DE now owns 9,359 shares of the semiconductor company's stock worth $395,000 after purchasing an additional 1,518 shares during the period. New York State Teachers Retirement System lifted its position in shares of Rambus by 6.9% during the third quarter. New York State Teachers Retirement System now owns 80,250 shares of the semiconductor company's stock worth $3,388,000 after purchasing an additional 5,169 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Rambus by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 12,510 shares of the semiconductor company's stock valued at $528,000 after purchasing an additional 845 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded up $1.73 on Tuesday, hitting $50.26. 819,025 shares of the company's stock were exchanged, compared to its average volume of 1,569,412. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The company has a market capitalization of $5.36 billion, a PE ratio of 31.22 and a beta of 1.17. The firm's 50-day moving average is $42.24 and its 200 day moving average is $50.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RMBS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Susquehanna reduced their price objective on Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a research note on Friday, July 26th.

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.