Algert Global LLC Raises Stake in Rambus Inc. (NASDAQ:RMBS)

Algert Global LLC grew its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 164.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 259,341 shares of the semiconductor company’s stock after acquiring an additional 161,348 shares during the quarter. Algert Global LLC’s holdings in Rambus were worth $10,949,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new position in Rambus in the 2nd quarter worth $38,000. Fifth Third Bancorp grew its stake in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the last quarter. Blue Trust Inc. increased 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 worth $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rambus in the 2nd quarter valued at about $87,000. Finally, GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 1,769 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Performance

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

Wall Street Analysts Forecast Growth

RMBS has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on shares of Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Loop Capital initiated coverage on shares of Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Finally, Susquehanna cut their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rambus presently has a consensus rating of “Buy” and a consensus price target of $71.60.

About Rambus

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.