Cerity Partners LLC Grows Stake in Rambus Inc. (NASDAQ:RMBS)

Cerity Partners LLC lifted its stake in Rambus Inc. (NASDAQ:RMBS) by 69.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,615 shares of the semiconductor company’s stock after buying an additional 6,814 shares during the quarter. Cerity Partners LLC’s holdings in Rambus were worth $701,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in Rambus during the 2nd quarter valued at $38,000. Fifth Third Bancorp increased its position in 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 acquiring an additional 296 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus in the second quarter worth about $87,000. Finally, GAMMA Investing LLC grew its stake in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares during the period. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

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

Rambus Price Performance

RMBS opened at $58.83 on Friday. The company has a 50 day simple moving average of $49.38 and a two-hundred day simple moving average of $50.42. The firm has a market cap of $6.27 billion, a P/E ratio of 36.54 and a beta of 1.22. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

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.