Paloma Partners Management Co Makes New $372,000 Investment in Rambus Inc. (NASDAQ:RMBS)

Paloma Partners Management Co purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,814 shares of the semiconductor company's stock, valued at approximately $372,000.

A number of other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock worth $53,483,000 after acquiring an additional 978,417 shares during the period. Swedbank AB raised its position in Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company's stock worth $91,069,000 after acquiring an additional 556,850 shares during the period. AQR Capital Management LLC raised its position in Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company's stock worth $33,133,000 after acquiring an additional 486,078 shares during the period. Point72 Hong Kong Ltd bought a new stake in Rambus in the third quarter worth about $18,984,000. Finally, American Century Companies Inc. raised its position in shares of Rambus by 63.8% in the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company's stock valued at $61,897,000 after purchasing an additional 410,332 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Stock Down 2.5 %

NASDAQ:RMBS traded down $1.46 during mid-day trading on Thursday, hitting $57.52. 410,792 shares of the stock traded hands, compared to its average volume of 1,509,434. The business's 50-day moving average price is $48.74 and its 200 day moving average price is $50.38. The company has a market cap of $6.13 billion, a PE ratio of 36.63 and a beta of 1.22. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Loop Capital assumed coverage on shares of Rambus in a research report on Monday, November 11th. They issued a "buy" rating and a $70.00 price target on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target on the stock. Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Finally, Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently 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.