Eagle Asset Management Inc. Purchases 7,168 Shares of Rambus Inc. (NASDAQ:RMBS)

Eagle Asset Management Inc. lifted its position in Rambus Inc. (NASDAQ:RMBS) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 722,773 shares of the semiconductor company’s stock after acquiring an additional 7,168 shares during the quarter. Eagle Asset Management Inc. owned 0.68% of Rambus worth $30,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RMBS. Quarry LP bought a new stake in shares of Rambus in the second quarter valued at about $38,000. Fifth Third Bancorp raised its holdings in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Rambus by 240.6% in the second 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rambus in the second quarter valued at about $87,000. Finally, GAMMA Investing LLC raised its holdings 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 in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RMBS. Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Susquehanna reduced their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Finally, Loop Capital started coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rambus has an average rating of “Buy” and a consensus target price of $71.60.

Rambus Stock Performance

Shares of RMBS stock opened at $55.96 on Friday. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 34.76 and a beta of 1.17. The stock’s 50-day simple moving average is $45.38 and its 200-day simple moving average is $50.40.

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.