Point72 Asset Management L.P. Invests $2.85 Million in Rambus Inc. (NASDAQ:RMBS)

Point72 Asset Management L.P. acquired a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 67,587 shares of the semiconductor company's stock, valued at approximately $2,854,000. Point72 Asset Management L.P. owned 0.06% of Rambus at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Quarry LP bought a new stake in shares of Rambus in the 2nd quarter valued at about $38,000. Fifth Third Bancorp boosted its position 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 in the last quarter. Blue Trust Inc. boosted its position in shares of Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after purchasing an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus in the 2nd quarter valued at $87,000. Finally, GAMMA Investing LLC increased its position 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 valued at $111,000 after buying an additional 1,769 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Stock Down 0.1 %

Shares of RMBS stock traded down $0.05 during trading on Tuesday, reaching $58.35. The company's stock had a trading volume of 234,365 shares, compared to its average volume of 1,496,302. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 36.27 and a beta of 1.22. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The business has a fifty day moving average price of $49.70 and a 200-day moving average price of $50.32.

Analyst Ratings Changes

A number of research analysts have issued reports on RMBS shares. Wells Fargo & Company started coverage on Rambus in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 target price for the company. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They set a "buy" rating and a $70.00 target price for the company. Rosenblatt Securities restated a "buy" rating and set a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Baird R W upgraded shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Finally, Robert W. Baird started coverage on shares of Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rambus currently has an average rating of "Buy" and a consensus target price of $74.67.

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.