Covestor Ltd Sells 304 Shares of Rambus Inc. (NASDAQ:RMBS)

Covestor Ltd cut its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 11.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,413 shares of the semiconductor company’s stock after selling 304 shares during the period. Covestor Ltd’s holdings in Rambus were worth $102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Swedbank AB acquired a new position in Rambus in the first quarter valued at approximately $61,377,000. Assenagon Asset Management S.A. raised its position in shares of Rambus by 339.3% during 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 during the last quarter. AQR Capital Management LLC lifted its stake in shares of Rambus by 559.7% in the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after purchasing an additional 486,078 shares during the period. American Century Companies Inc. boosted its position in shares of Rambus by 63.8% in the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after purchasing an additional 410,332 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Rambus during the first quarter worth $20,277,000. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital began coverage on Rambus in a report on Monday. They set a “buy” rating and a $70.00 target price on the stock. Susquehanna reduced their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company initiated coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $71.60.

Rambus Stock Performance

Shares of RMBS stock opened at $55.37 on Wednesday. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38. The company’s 50 day moving average price is $43.21 and its two-hundred day moving average price is $50.48. The company has a market capitalization of $5.90 billion, a P/E ratio of 34.39 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.