Glenmede Trust Co. NA Buys 75,908 Shares of Rambus Inc. (NASDAQ:RMBS)

Glenmede Trust Co. NA boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 32.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 311,910 shares of the semiconductor company’s stock after buying an additional 75,908 shares during the quarter. Glenmede Trust Co. NA’s holdings in Rambus were worth $13,169,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RMBS. Bridgewater Associates LP boosted its holdings in Rambus by 1,150.7% during the third quarter. Bridgewater Associates LP now owns 61,148 shares of the semiconductor company’s stock worth $2,582,000 after purchasing an additional 56,259 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Rambus in the third quarter valued at approximately $1,252,000. Qsemble Capital Management LP purchased a new stake in shares of Rambus during the third quarter valued at approximately $3,163,000. Dynamic Technology Lab Private Ltd bought a new stake in Rambus during the third quarter worth $2,077,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Rambus by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after acquiring an additional 356,496 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

NASDAQ:RMBS opened at $57.12 on Friday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The stock’s fifty day moving average price is $47.14 and its two-hundred day moving average price is $50.42. The company has a market cap of $6.09 billion, a P/E ratio of 35.48 and a beta of 1.17.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RMBS shares. Wells Fargo & Company assumed 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 reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday. 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 price target for the company. Finally, Robert W. Baird started coverage on Rambus in a research note on Monday. They issued an “outperform” rating and a $90.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $74.67.

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.