Van ECK Associates Corp Increases Holdings in Rambus Inc. (NASDAQ:RMBS)

Van ECK Associates Corp boosted its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 52.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,441 shares of the semiconductor company's stock after purchasing an additional 27,860 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Rambus worth $3,372,000 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. Assenagon Asset Management S.A. raised its stake in Rambus by 386.3% during the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company's stock worth $16,944,000 after acquiring an additional 229,066 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Rambus in the first quarter valued at approximately $1,289,000. SG Americas Securities LLC increased its stake in shares of Rambus by 221.3% in the first quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company's stock valued at $826,000 after buying an additional 9,200 shares during the period. Swedbank AB boosted its holdings in Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company's stock valued at $91,069,000 after acquiring an additional 556,850 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Rambus by 559.4% in the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company's stock valued at $1,113,000 after acquiring an additional 16,067 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of research analyst reports. Susquehanna cut their price target on Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a report on Friday, July 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Finally, Wells Fargo & Company started coverage on Rambus in a report on Wednesday. They issued an "overweight" rating and a $62.00 target price on the stock.

Rambus Trading Down 1.6 %

Shares of RMBS traded down $0.91 during trading hours on Friday, reaching $55.78. The stock had a trading volume of 874,043 shares, compared to its average volume of 1,408,489. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 34.65 and a beta of 1.17. The firm has a 50-day simple moving average of $42.99 and a 200 day simple moving average of $50.54. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

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.