Vaughan Nelson Investment Management L.P. Buys 357,160 Shares of Rambus Inc. (NASDAQ:RMBS)

Vaughan Nelson Investment Management L.P. grew its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 32.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,462,932 shares of the semiconductor company's stock after acquiring an additional 357,160 shares during the period. Vaughan Nelson Investment Management L.P. owned about 1.37% of Rambus worth $61,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new position in Rambus during the 1st quarter valued at approximately $61,377,000. Assenagon Asset Management S.A. increased its holdings in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock valued at $53,483,000 after acquiring an additional 978,417 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Rambus by 559.7% in the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company's stock worth $33,133,000 after purchasing an additional 486,078 shares during the last quarter. American Century Companies Inc. grew its position in Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company's stock valued at $61,897,000 after purchasing an additional 410,332 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Rambus by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company's stock valued at $720,155,000 after purchasing an additional 275,160 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of several analyst reports. Susquehanna reduced their price target on shares of Rambus from $75.00 to $66.00 and set a "positive" rating for the company in a research report on Friday, July 26th. Loop Capital initiated coverage on Rambus in a research note on Monday, November 11th. They issued a "buy" rating and a $70.00 price target for the company. Wells Fargo & Company began coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price objective on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rambus has an average rating of "Buy" and a consensus target price of $71.60.

Rambus Stock Down 3.8 %

NASDAQ:RMBS traded down $2.04 on Friday, hitting $51.31. The stock had a trading volume of 870,176 shares, compared to its average volume of 1,274,565. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 31.87 and a beta of 1.17. The business's 50-day simple moving average is $44.32 and its two-hundred day simple moving average is $50.40.

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.