HighTower Advisors LLC Has $9.81 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

HighTower Advisors LLC increased its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 22.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 233,293 shares of the semiconductor company's stock after acquiring an additional 42,968 shares during the period. HighTower Advisors LLC owned about 0.22% of Rambus worth $9,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also 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 grew its position in shares of Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after buying an additional 296 shares during the last quarter. Blue Trust Inc. grew its position in shares of Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock valued at $71,000 after buying an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rambus in the 2nd quarter valued at about $87,000. Finally, GAMMA Investing LLC grew 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 during the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded down $0.43 during midday trading on Monday, reaching $58.40. The company's stock had a trading volume of 542,516 shares, compared to its average volume of 1,501,692. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 36.27 and a beta of 1.22. The firm has a 50 day moving average price of $49.70 and a two-hundred day moving average price of $50.32. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Analyst Ratings Changes

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