Citigroup Inc. Has $4.77 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Citigroup Inc. reduced its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 83.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 112,915 shares of the semiconductor company’s stock after selling 564,655 shares during the period. Citigroup Inc. owned approximately 0.11% of Rambus worth $4,767,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RMBS. Assenagon Asset Management S.A. raised its position in Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares during the last quarter. Swedbank AB raised its holdings in shares of Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after purchasing an additional 556,850 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after purchasing an additional 486,078 shares in the last quarter. American Century Companies Inc. boosted its holdings in Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after purchasing an additional 410,332 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after purchasing an additional 357,160 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Rambus stock opened at $58.87 on Tuesday. The stock has a fifty day moving average of $47.93 and a 200-day moving average of $50.31. The stock has a market capitalization of $6.27 billion, a P/E ratio of 36.57 and a beta of 1.17. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMBS. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 target price on the stock. Finally, Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Buy” and a consensus target price 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.