Quest Partners LLC Acquires 17,190 Shares of Rambus Inc. (NASDAQ:RMBS)

Quest Partners LLC raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 150.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,615 shares of the semiconductor company’s stock after purchasing an additional 17,190 shares during the quarter. Quest Partners LLC’s holdings in Rambus were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of RMBS. Swedbank AB acquired a new position in Rambus in the first quarter valued at about $61,377,000. Assenagon Asset Management S.A. raised its stake in shares of Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after acquiring an additional 978,417 shares during the last quarter. AQR Capital Management LLC grew its position in Rambus by 559.7% during the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after acquiring an additional 486,078 shares during the last quarter. American Century Companies Inc. increased its holdings in Rambus by 63.8% during the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock valued at $61,897,000 after purchasing an additional 410,332 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake 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 worth $61,765,000 after purchasing an additional 357,160 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

RMBS opened at $52.29 on Wednesday. The firm has a 50 day simple moving average of $44.60 and a 200 day simple moving average of $50.38. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 32.48 and a beta of 1.17.

Wall Street Analysts Forecast Growth

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