Point72 DIFC Ltd Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Point72 DIFC Ltd bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,963 shares of the semiconductor company's stock, valued at approximately $801,000.

Other hedge funds also recently modified their holdings of the company. Hood River Capital Management LLC boosted its holdings in shares of Rambus by 5.7% during the second quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company's stock worth $127,248,000 after purchasing an additional 116,976 shares during the period. Dimensional Fund Advisors LP lifted its position in Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company's stock worth $105,673,000 after buying an additional 158,259 shares in the last quarter. Swedbank AB boosted its stake in shares of Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock valued at $73,589,000 after buying an additional 193,150 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Rambus by 32.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after acquiring an additional 357,160 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Price Performance

RMBS traded up $1.31 on Friday, hitting $58.83. The company had a trading volume of 640,876 shares, compared to its average volume of 1,505,756. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The company's fifty day moving average price is $49.38 and its 200 day moving average price is $50.42. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of 36.54 and a beta of 1.22.

Wall Street Analysts Forecast Growth

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

Rambus 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.