Empowered Funds LLC Takes Position in Rambus Inc. (NASDAQ:RMBS)

Empowered Funds LLC purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,517 shares of the semiconductor company’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP purchased a new stake in Rambus in the second quarter worth $38,000. Fifth Third Bancorp increased its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. lifted its holdings in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Rambus in the 2nd quarter valued at about $87,000. Finally, GAMMA Investing LLC grew its stake in Rambus by 207.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Stock Up 1.7 %

Shares of NASDAQ:RMBS opened at $56.89 on Tuesday. The firm has a 50 day moving average of $45.68 and a 200 day moving average of $50.31. The company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 35.34 and a beta of 1.17. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38.

Wall Street Analysts Forecast Growth

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

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.