Verition Fund Management LLC Buys 26,661 Shares of Rambus Inc. (NASDAQ:RMBS)

Verition Fund Management LLC increased its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 630.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,888 shares of the semiconductor company's stock after acquiring an additional 26,661 shares during the quarter. Verition Fund Management LLC's holdings in Rambus were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RMBS. Assenagon Asset Management S.A. increased its position in shares of Rambus by 386.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company's stock valued at $16,944,000 after buying an additional 229,066 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after buying an additional 357,160 shares in the last quarter. Swedbank AB boosted its holdings in shares of 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 buying an additional 556,850 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rambus during the third quarter worth $2,077,000. Finally, FORA Capital LLC lifted its position in Rambus by 63.7% in the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock valued at $1,701,000 after acquiring an additional 15,671 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Price Performance

RMBS stock traded up $1.31 during trading hours on Friday, reaching $58.83. The stock had a trading volume of 641,031 shares, compared to its average volume of 787,251. The stock has a market capitalization of $6.27 billion, a PE ratio of 36.54 and a beta of 1.22. The stock has a 50-day simple moving average of $49.38 and a 200 day simple moving average of $50.36. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. 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 on the stock. Rosenblatt Securities restated a "buy" rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Rambus in a research note on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price target 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 on the stock. Finally, Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.