Intech Investment Management LLC Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Intech Investment Management LLC purchased a new position in Rambus Inc. (NASDAQ:RMBS) in the third quarter, Holdings Channel reports. The fund purchased 91,159 shares of the semiconductor company’s stock, valued at approximately $3,849,000.

Several other large investors also recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Rambus in the 2nd quarter valued at approximately $38,000. Fifth Third Bancorp lifted its stake in shares of 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 buying an additional 296 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Rambus by 240.6% during the 2nd 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 Rambus in the 2nd quarter valued at $87,000. Finally, GAMMA Investing LLC raised its holdings in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $55.96 on Friday. The firm’s 50-day moving average is $45.68 and its 200-day moving average is $50.39. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 34.76 and a beta of 1.17. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38.

Wall Street Analysts Forecast Growth

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

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.