Point72 Hong Kong Ltd Takes Position in Rambus Inc. (NASDAQ:RMBS)

Point72 Hong Kong Ltd acquired a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 449,655 shares of the semiconductor company's stock, valued at approximately $18,984,000. Rambus makes up about 1.3% of Point72 Hong Kong Ltd's portfolio, making the stock its 16th biggest holding. Point72 Hong Kong Ltd owned 0.42% of Rambus as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMBS. Quarry LP acquired a new stake in shares of Rambus in the 2nd quarter valued at $38,000. Fifth Third Bancorp increased its stake in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. lifted its stake in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock valued at $71,000 after acquiring an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Rambus in the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC increased its stake in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock worth $111,000 after purchasing an additional 1,769 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded up $0.69 during trading on Friday, reaching $57.81. 574,108 shares of the stock were exchanged, compared to its average volume of 945,433. The firm's 50-day moving average price is $47.52 and its 200 day moving average price is $50.37. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 35.91 and a beta of 1.17.

Wall Street Analyst Weigh In

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