WCM Investment Management LLC Decreases Holdings in Rambus Inc. (NASDAQ:RMBS)

WCM Investment Management LLC lowered its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 352,403 shares of the semiconductor company's stock after selling 11,253 shares during the period. WCM Investment Management LLC owned approximately 0.33% of Rambus worth $14,843,000 at the end of the most recent quarter.

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

Rambus Stock Performance

NASDAQ RMBS traded down $0.52 on Tuesday, hitting $55.37. 871,350 shares of the stock traded hands, compared to its average volume of 1,563,109. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 34.71 and a beta of 1.17. The business's fifty day moving average is $43.21 and its two-hundred day moving average is $50.48. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target on the stock. Loop Capital assumed coverage on shares of Rambus in a research report on Monday. They set a "buy" rating and a $70.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Finally, Susquehanna cut their target price on Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rambus currently has an average rating of "Buy" and a consensus target price of $71.60.

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.