Rambus Inc. (NASDAQ:RMBS) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 3.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,819,125 shares of the semiconductor company's stock after purchasing an additional 164,830 shares during the quarter. State Street Corp owned 4.52% of Rambus worth $203,463,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Quarry LP purchased a new position in Rambus in the second quarter valued at about $38,000. Fifth Third Bancorp lifted its position in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Blue Trust Inc. boosted its holdings in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after acquiring an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus in the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC grew its position in Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after acquiring an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Shares of RMBS stock traded down $0.69 during trading hours on Friday, hitting $57.41. 1,238,606 shares of the company were exchanged, compared to its average volume of 1,491,590. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 35.66 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's 50-day simple moving average is $50.79 and its two-hundred day simple moving average is $50.45.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMBS. Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They issued a "buy" rating and a $70.00 target price for the company. 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 for the company. Wells Fargo & Company assumed coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 target price on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Finally, Baird R W upgraded Rambus to a "strong-buy" rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.