Covestor Ltd Has $102,000 Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Covestor Ltd lowered its position in shares of Rambus Inc. (NASDAQ:RMBS) by 11.2% in the third quarter, HoldingsChannel reports. The fund owned 2,413 shares of the semiconductor company’s stock after selling 304 shares during the period. Covestor Ltd’s holdings in Rambus were worth $102,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RMBS. Vanguard Group Inc. boosted its holdings in Rambus by 2.4% during the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock worth $720,155,000 after purchasing an additional 275,160 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock worth $127,248,000 after purchasing an additional 116,976 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Rambus by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after acquiring an additional 158,259 shares during the last quarter. Swedbank AB grew its position in shares of Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after acquiring an additional 193,150 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Loop Capital began coverage on shares of Rambus in a research note on Monday. They issued a “buy” rating and a $70.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Susquehanna cut their price objective 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, Wells Fargo & Company began coverage on Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $71.60.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $55.37 on Wednesday. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The company has a market capitalization of $5.90 billion, a PE ratio of 34.39 and a beta of 1.17. The company has a fifty day moving average of $43.21 and a 200-day moving average of $50.48.

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.