Victory Capital Management Inc. Sells 184,365 Shares of Rambus Inc. (NASDAQ:RMBS)

Victory Capital Management Inc. lessened its holdings in Rambus Inc. (NASDAQ:RMBS) by 82.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,739 shares of the semiconductor company’s stock after selling 184,365 shares during the period. Victory Capital Management Inc.’s holdings in Rambus were worth $1,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Rambus by 62.1% in the 1st quarter. Advisors Asset Management Inc. now owns 7,524 shares of the semiconductor company’s stock valued at $465,000 after purchasing an additional 2,881 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rambus by 10.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,056,350 shares of the semiconductor company’s stock valued at $65,294,000 after acquiring an additional 104,050 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Rambus by 31.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,742 shares of the semiconductor company’s stock worth $540,000 after acquiring an additional 2,103 shares during the last quarter. Tidal Investments LLC increased its holdings in Rambus by 136.5% in the 1st quarter. Tidal Investments LLC now owns 25,082 shares of the semiconductor company’s stock worth $1,550,000 after purchasing an additional 14,475 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Rambus by 51.3% during the first quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock valued at $4,289,000 after purchasing an additional 23,526 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday. They issued an “outperform” rating and a $90.00 price target for the company. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Finally, Wells Fargo & Company began coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $74.67.

Rambus Trading Up 1.7 %

Shares of NASDAQ RMBS opened at $56.89 on Tuesday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 35.34 and a beta of 1.17. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The stock’s 50-day moving average is $45.68 and its 200 day moving average is $50.31.

Rambus 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.