Geode Capital Management LLC Raises Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Geode Capital Management LLC raised its stake in Rambus Inc. (NASDAQ:RMBS) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,621,342 shares of the semiconductor company’s stock after buying an additional 21,053 shares during the quarter. Geode Capital Management LLC owned about 2.46% of Rambus worth $110,693,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rambus by 32.3% in 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 buying an additional 357,160 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Rambus during the 3rd quarter valued at about $2,077,000. Assenagon Asset Management S.A. grew its position in 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 valued at $53,483,000 after acquiring an additional 978,417 shares in the last quarter. FORA Capital LLC increased its stake in Rambus by 63.7% during the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock worth $1,701,000 after purchasing an additional 15,671 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in shares of Rambus by 32.2% during the third quarter. Glenmede Trust Co. NA now owns 311,910 shares of the semiconductor company’s stock worth $13,169,000 after purchasing an additional 75,908 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 5.8 %

Shares of RMBS stock opened at $54.83 on Thursday. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The company has a market cap of $5.84 billion, a P/E ratio of 34.06 and a beta of 1.22. The firm has a fifty day moving average price of $52.07 and a 200 day moving average price of $50.47.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction that occurred on 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 owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird started coverage on shares of Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective for the company. Loop Capital started coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. 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. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company assumed coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $74.67.

Rambus Company 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.