Rambus Inc. (NASDAQ:RMBS) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 7.2% in the third quarter, Holdings Channel reports. The fund owned 12,510 shares of the semiconductor company’s stock after purchasing an additional 845 shares during the period. State of Alaska Department of Revenue’s holdings in Rambus were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Rambus by 386.3% during the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock worth $16,944,000 after purchasing an additional 229,066 shares during the period. Magnetar Financial LLC purchased a new position in Rambus during the 1st quarter worth $1,289,000. SG Americas Securities LLC raised its position in Rambus by 221.3% during the 1st quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock worth $826,000 after buying an additional 9,200 shares during the last quarter. Swedbank AB lifted its stake in shares of Rambus by 56.1% in the 2nd quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock worth $91,069,000 after acquiring an additional 556,850 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 16,067 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Wells Fargo & Company began coverage on Rambus in a research note on Wednesday. They set an “overweight” rating and a $62.00 target price for the company. Finally, Susquehanna decreased their price target on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday, July 26th.

Rambus Trading Down 1.8 %

RMBS stock opened at $56.69 on Friday. The company’s 50-day moving average price is $42.77 and its 200 day moving average price is $50.57. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38. The company has a market cap of $6.04 billion, a P/E ratio of 35.21 and a beta of 1.17.

Rambus Company 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.