Eagle Asset Management Inc. Raises Stake in Rambus Inc. (NASDAQ:RMBS)

Eagle Asset Management Inc. boosted its position in Rambus Inc. (NASDAQ:RMBS) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 722,773 shares of the semiconductor company’s stock after purchasing an additional 7,168 shares during the period. Eagle Asset Management Inc.’s holdings in Rambus were worth $30,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in Rambus by 386.3% in the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after buying an additional 229,066 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Rambus in the first quarter valued at approximately $1,289,000. Vaughan Nelson Investment Management L.P. boosted its position 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 valued at $61,765,000 after buying an additional 357,160 shares during the last quarter. Swedbank AB boosted its position 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. Finally, Harbor Capital Advisors Inc. boosted its position 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of RMBS stock opened at $55.96 on Friday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 34.76 and a beta of 1.17. The stock has a 50 day simple moving average of $45.38 and a 200-day simple moving average of $50.40. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RMBS shares. Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective on the stock. Susquehanna lowered their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock. 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rambus presently has a consensus rating of “Buy” and an average price target of $71.60.

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.