Rambus Inc. (NASDAQ:RMBS) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 18.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 44,207 shares of the semiconductor company’s stock after purchasing an additional 6,877 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Rambus were worth $1,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Assenagon Asset Management S.A. raised its stake in shares of Rambus by 386.3% in the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after acquiring an additional 229,066 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Rambus during the first quarter worth approximately $1,289,000. Swedbank AB raised its holdings in 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 acquiring an additional 556,850 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Rambus by 559.4% in the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock worth $1,113,000 after acquiring an additional 16,067 shares during the last quarter. Finally, Comerica Bank grew its holdings in Rambus by 51.3% during the 1st quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock worth $4,289,000 after acquiring an additional 23,526 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

RMBS opened at $52.59 on Tuesday. The stock has a market capitalization of $5.60 billion, a P/E ratio of 31.87 and a beta of 1.17. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The business’s 50-day simple moving average is $44.32 and its 200-day simple moving average is $50.39.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RMBS. Susquehanna reduced their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Wells Fargo & Company assumed coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target for the company. Loop Capital started coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $71.60.

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.