Rambus Inc. (NASDAQ:RMBS) Shares Sold by Swiss National Bank

Swiss National Bank lessened its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,500 shares of the semiconductor company’s stock after selling 3,100 shares during the quarter. Swiss National Bank owned about 0.20% of Rambus worth $8,887,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP acquired a new position in Rambus in the 2nd quarter valued at about $38,000. Fifth Third Bancorp grew its stake in Rambus by 68.7% in the 2nd 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 holdings 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 last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus during the 2nd quarter worth $87,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Rambus by 207.1% during 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 last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RMBS. Wells Fargo & Company started coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Finally, Loop Capital assumed coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $71.60.

Rambus Price Performance

NASDAQ:RMBS opened at $55.96 on Monday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The business has a 50 day simple moving average of $45.68 and a 200 day simple moving average of $50.35. The firm has a market capitalization of $5.96 billion, a P/E ratio of 34.76 and a beta of 1.17.

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.