Van ECK Associates Corp Acquires 27,860 Shares of Rambus Inc. (NASDAQ:RMBS)

Van ECK Associates Corp raised its stake in Rambus Inc. (NASDAQ:RMBS) by 52.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,441 shares of the semiconductor company’s stock after purchasing an additional 27,860 shares during the period. Van ECK Associates Corp owned 0.08% of Rambus worth $3,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. 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 Rambus by 68.7% in 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 period. Blue Trust Inc. raised its stake in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus during the second quarter worth $87,000. Finally, GAMMA Investing LLC boosted its position in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Trading Down 1.6 %

RMBS stock opened at $55.78 on Friday. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 34.65 and a beta of 1.17. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The business’s 50-day moving average is $42.99 and its 200 day moving average is $50.54.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company assumed coverage on Rambus in a report on Wednesday. They set an “overweight” rating and a $62.00 price target on the stock. Finally, Susquehanna decreased their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th.

Rambus 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.