Mutual of America Capital Management LLC Purchases 37,018 Shares of Rambus Inc. (NASDAQ:RMBS)

Mutual of America Capital Management LLC boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 33.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 148,120 shares of the semiconductor company’s stock after purchasing an additional 37,018 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Rambus were worth $6,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Swedbank AB bought a new stake in Rambus during the 1st quarter valued at approximately $61,377,000. Assenagon Asset Management S.A. raised its position in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after buying an additional 486,078 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after acquiring an additional 410,332 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after acquiring an additional 357,160 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rambus Price Performance

Shares of NASDAQ RMBS opened at $52.29 on Wednesday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The business’s 50 day moving average is $44.60 and its two-hundred day moving average is $50.38. The stock has a market capitalization of $5.57 billion, a P/E ratio of 32.48 and a beta of 1.17.

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.