Virtu Financial LLC Invests $407,000 in Rambus Inc. (NASDAQ:RMBS)

Virtu Financial LLC acquired a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,633 shares of the semiconductor company's stock, valued at approximately $407,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in shares of Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock worth $53,483,000 after acquiring an additional 978,417 shares during the period. AQR Capital Management LLC lifted its position in Rambus by 559.7% in the second 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 period. Point72 Hong Kong Ltd bought a new position in Rambus during the 3rd quarter valued at $18,984,000. American Century Companies Inc. increased its position in shares of 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 period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of Rambus by 32.3% during the 3rd 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 purchasing an additional 357,160 shares during the period. Institutional investors own 88.54% of the company's stock.

Rambus Trading Up 3.0 %

Shares of RMBS traded up $1.73 during midday trading on Monday, hitting $59.14. The stock had a trading volume of 762,155 shares, compared to its average volume of 1,488,578. The business has a 50-day simple moving average of $51.12 and a two-hundred day simple moving average of $50.39. The firm has a market cap of $6.30 billion, a P/E ratio of 36.45 and a beta of 1.22. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RMBS. Robert W. Baird began coverage on Rambus in a report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price objective for the company. Loop Capital initiated coverage on shares of Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company began coverage on shares of Rambus in a report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $74.67.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was 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 directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

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.