The Manufacturers Life Insurance Company Decreases Stake in Rambus Inc. (NASDAQ:RMBS)

The Manufacturers Life Insurance Company lowered its position in shares of Rambus Inc. (NASDAQ:RMBS) by 3.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 127,159 shares of the semiconductor company’s stock after selling 4,486 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Rambus worth $5,369,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares during the period. Chartwell Investment Partners LLC lifted its holdings in shares of Rambus by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock valued at $1,645,000 after buying an additional 318 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of Rambus by 4.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock valued at $361,000 after buying an additional 350 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Rambus by 11.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock worth $294,000 after buying an additional 496 shares during the last quarter. Finally, Quarry LP acquired a new stake in Rambus during the second quarter worth about $38,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RMBS. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. 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 price objective for the company. Loop Capital started coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Finally, Robert W. Baird initiated coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $74.67.

Rambus Price Performance

Shares of RMBS stock opened at $57.52 on Friday. The company has a market capitalization of $6.13 billion, a PE ratio of 35.73 and a beta of 1.22. The firm’s 50-day moving average is $49.04 and its two-hundred day moving average is $50.43. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

About Rambus

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.