Rambus Inc. (NASDAQ:RMBS) is Barington Capital Group L.P.’s 7th Largest Position

Barington Capital Group L.P. boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 11.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 145,100 shares of the semiconductor company’s stock after purchasing an additional 15,000 shares during the quarter. Rambus accounts for approximately 6.5% of Barington Capital Group L.P.’s investment portfolio, making the stock its 7th largest holding. Barington Capital Group L.P.’s holdings in Rambus were worth $6,126,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Rambus by 386.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after acquiring an additional 229,066 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares in the last quarter. Swedbank AB increased its holdings in Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after buying an additional 556,850 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Rambus by 559.4% in the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock valued at $1,113,000 after buying an additional 16,067 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Rambus in the third quarter valued at about $2,077,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

RMBS stock opened at $57.81 on Monday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 35.91 and a beta of 1.17. The stock’s fifty day moving average is $47.52 and its two-hundred day moving average is $50.31.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RMBS. Robert W. Baird initiated coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. 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 shares of Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Finally, Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $74.67.

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.