Rambus Inc. (NASDAQ:RMBS) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in Rambus Inc. (NASDAQ:RMBS) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,421 shares of the semiconductor company’s stock after selling 3,938 shares during the quarter. Amalgamated Bank’s holdings in Rambus were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp increased its stake in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. boosted its position in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus during the second quarter valued at about $87,000. Finally, GAMMA Investing LLC lifted its stake 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 acquiring an additional 1,769 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RMBS. Wells Fargo & Company initiated coverage on Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective on the stock. Susquehanna lowered their target price on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Loop Capital initiated coverage on Rambus in a report on Monday. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.60.

Rambus Trading Up 0.2 %

Shares of RMBS opened at $55.89 on Tuesday. 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 $5.96 billion, a P/E ratio of 34.71 and a beta of 1.17. The business’s 50-day moving average price is $42.99 and its 200 day moving average price is $50.50.

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.