Centiva Capital LP Invests $3.54 Million in Rambus Inc. (NASDAQ:RMBS)

Centiva Capital LP acquired a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 83,915 shares of the semiconductor company’s stock, valued at approximately $3,543,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Rambus in the 2nd quarter worth about $38,000. Fifth Third Bancorp grew its position 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 purchasing an additional 296 shares during the last quarter. Blue Trust Inc. increased its stake 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 purchasing an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus during the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC lifted its stake in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Loop Capital initiated coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company assumed coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $74.67.

Rambus Stock Performance

RMBS opened at $57.81 on Monday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The company’s 50 day simple moving average is $47.52 and its 200 day simple moving average is $50.31. The stock has a market capitalization of $6.16 billion, a PE ratio of 35.91 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.