Assetmark Inc. Acquires 10,355 Shares of Rambus Inc. (NASDAQ:RMBS)

Assetmark Inc. lifted its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,738 shares of the semiconductor company’s stock after acquiring an additional 10,355 shares during the quarter. Assetmark Inc. owned approximately 0.09% of Rambus worth $4,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Swedbank AB bought a new position in Rambus in the 1st quarter worth $61,377,000. Assenagon Asset Management S.A. lifted its holdings in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after buying an additional 978,417 shares during the period. AQR Capital Management LLC boosted its position in Rambus by 559.7% during the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after acquiring an additional 486,078 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after acquiring an additional 410,332 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Rambus in the 1st quarter worth approximately $20,277,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research reports. Loop Capital started coverage on Rambus in a research report on Monday. They set a “buy” rating and a $70.00 price target on the stock. 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 target price on the stock. Susquehanna lowered their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $71.60.

Rambus Stock Performance

Shares of RMBS stock opened at $55.37 on Wednesday. The company’s 50-day moving average is $43.21 and its 200 day moving average is $50.48. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 34.39 and a beta of 1.17. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38.

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.