Oppenheimer Asset Management Inc. Acquires Shares of 5,376 Rambus Inc. (NASDAQ:RMBS)

Oppenheimer Asset Management Inc. bought a new position in Rambus Inc. (NASDAQ:RMBS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,376 shares of the semiconductor company’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in Rambus by 0.7% during the first quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock valued at $3,814,000 after purchasing an additional 423 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Rambus by 12.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 35,143 shares of the semiconductor company’s stock worth $2,172,000 after acquiring an additional 3,950 shares during the period. Vanguard Group Inc. lifted its holdings in Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock worth $720,155,000 after acquiring an additional 275,160 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Rambus by 0.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,341 shares of the semiconductor company’s stock valued at $5,585,000 after acquiring an additional 779 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of Rambus by 10.0% during the first quarter. Vident Advisory LLC now owns 65,673 shares of the semiconductor company’s stock valued at $4,059,000 after purchasing an additional 5,991 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Rambus Trading Up 1.3 %

Shares of Rambus stock opened at $52.95 on Thursday. The firm has a fifty day simple moving average of $44.85 and a 200-day simple moving average of $50.35. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 32.89 and a beta of 1.17. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

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.