Zacks Investment Management Acquires New Position in Rambus Inc. (NASDAQ:RMBS)

Zacks Investment Management bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,270 shares of the semiconductor company's stock, valued at approximately $1,658,000.

A number of other hedge funds also recently made changes to their positions in RMBS. Assenagon Asset Management S.A. raised its position in Rambus by 386.3% in 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 during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Rambus by 32.3% during 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 purchasing an additional 357,160 shares during the period. Swedbank AB increased its holdings in Rambus by 56.1% in the 2nd quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company's stock worth $91,069,000 after acquiring an additional 556,850 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus in the third quarter valued at approximately $2,077,000. Finally, FORA Capital LLC lifted its stake in shares of Rambus by 63.7% during the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock valued at $1,701,000 after buying an additional 15,671 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Performance

Rambus stock traded down $0.41 during mid-day trading on Tuesday, hitting $57.99. 796,072 shares of the company traded hands, compared to its average volume of 1,499,106. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 36.02 and a beta of 1.22. The stock has a fifty day moving average price of $50.06 and a 200-day moving average price of $50.34.

Analysts Set New Price Targets

RMBS has been the topic of a number of analyst reports. Loop Capital assumed coverage on shares of Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 target price on the stock. Wells Fargo & Company initiated coverage on Rambus in a research note on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price objective on the stock. Robert W. Baird began coverage on Rambus in a report on Monday, November 25th. They set an "outperform" rating and a $90.00 target price for the company. Baird R W raised shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Six 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 currently has a consensus rating of "Buy" and a consensus target price of $74.67.

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.