Victory Capital Management Inc. Decreases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Victory Capital Management Inc. cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 82.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,739 shares of the semiconductor company’s stock after selling 184,365 shares during the quarter. Victory Capital Management Inc.’s holdings in Rambus were worth $1,678,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new stake in Rambus during the third quarter valued at approximately $1,473,000. GSA Capital Partners LLP grew its position in Rambus by 538.8% during the 3rd quarter. GSA Capital Partners LLP now owns 33,600 shares of the semiconductor company’s stock worth $1,419,000 after purchasing an additional 28,340 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Rambus by 47.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 8,679 shares of the semiconductor company’s stock worth $366,000 after purchasing an additional 2,797 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in Rambus by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock valued at $1,645,000 after purchasing an additional 318 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Rambus by 18.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,207 shares of the semiconductor company’s stock worth $1,866,000 after purchasing an additional 6,877 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 1.7 %

RMBS stock opened at $56.89 on Tuesday. The business’s fifty day moving average price is $45.68 and its 200 day moving average price is $50.31. The company has a market capitalization of $6.06 billion, a PE ratio of 35.34 and a beta of 1.17. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Loop Capital assumed coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Rambus in a research note on Monday. They issued an “outperform” rating and a $90.00 price objective for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rambus currently has an average rating of “Buy” and an average price target of $74.67.

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.