Virtu Financial LLC Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Virtu Financial LLC purchased a new stake in Rambus Inc. (NASDAQ:RMBS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,633 shares of the semiconductor company’s stock, valued at approximately $407,000.

Other hedge funds have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its stake in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after buying an additional 357,160 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus during the 3rd quarter valued at about $2,077,000. Assenagon Asset Management S.A. boosted its position in shares of Rambus by 339.3% during the 3rd 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. FORA Capital LLC grew its holdings in shares of Rambus by 63.7% during the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock worth $1,701,000 after purchasing an additional 15,671 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Rambus by 32.2% in the third quarter. Glenmede Trust Co. NA now owns 311,910 shares of the semiconductor company’s stock worth $13,169,000 after purchasing an additional 75,908 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Down 1.2 %

Shares of NASDAQ:RMBS opened at $57.41 on Monday. The company’s fifty day moving average is $51.12 and its 200 day moving average is $50.42. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38. The stock has a market cap of $6.12 billion, a PE ratio of 35.66 and a beta of 1.22.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RMBS shares. Loop Capital began coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Robert W. Baird assumed coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus target price of $74.67.

Insider Activity

In other Rambus news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.