Empowered Funds LLC Invests $275,000 in Rambus Inc. (NASDAQ:RMBS)

Empowered Funds LLC acquired a new position in Rambus Inc. (NASDAQ:RMBS) in the third quarter, Holdings Channel.com reports. The fund acquired 6,517 shares of the semiconductor company’s stock, valued at approximately $275,000.

Several other hedge funds also recently added to or reduced their stakes in RMBS. Quarry LP purchased a new stake in shares of Rambus during the second quarter worth about $38,000. Fifth Third Bancorp boosted its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. grew its position in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the 2nd quarter valued at approximately $87,000. Finally, GAMMA Investing LLC raised its holdings in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Rambus Stock Up 1.7 %

Shares of RMBS opened at $56.89 on Tuesday. The stock’s 50-day moving average price is $45.68 and its 200-day moving average price is $50.31. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 35.34 and a beta of 1.17. Rambus Inc. has a 52 week low of $37.42 and a 52 week 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.