Diversified Trust Co Increases Position in Rambus Inc. (NASDAQ:RMBS)

Diversified Trust Co increased its position in Rambus Inc. (NASDAQ:RMBS) by 11.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 30,041 shares of the semiconductor company’s stock after buying an additional 2,992 shares during the period. Diversified Trust Co’s holdings in Rambus were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Assenagon Asset Management S.A. increased its holdings in shares of Rambus by 339.3% in 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 purchasing an additional 978,417 shares during the period. AQR Capital Management LLC boosted its position in Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after buying an additional 486,078 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Rambus in the 3rd quarter worth approximately $18,984,000. American Century Companies Inc. raised its position in Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after buying an additional 410,332 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Rambus by 32.3% during the 3rd 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 during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Rambus Trading Up 1.0 %

Shares of RMBS stock opened at $57.08 on Thursday. The company has a market capitalization of $6.08 billion, a P/E ratio of 35.45 and a beta of 1.23. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The business’s 50 day moving average is $55.10 and its two-hundred day moving average is $50.25.

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.