Ontario Teachers Pension Plan Board Has $479,000 Stake in Rambus Inc. (NASDAQ:RMBS)

Ontario Teachers Pension Plan Board reduced its holdings in Rambus Inc. (NASDAQ:RMBS) by 34.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,336 shares of the semiconductor company’s stock after selling 6,081 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Rambus were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMBS. Quarry LP bought a new stake in Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp grew its holdings in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares in the last quarter. Blue Trust Inc. increased its position in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus during the second quarter worth $87,000. Finally, GAMMA Investing LLC boosted its position in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares during the period. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rambus Stock Up 2.8 %

Shares of NASDAQ RMBS opened at $54.45 on Friday. The company has a market capitalization of $5.80 billion, a PE ratio of 32.89 and a beta of 1.17. The firm has a fifty day simple moving average of $45.08 and a 200 day simple moving average of $50.37. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38.

Rambus Company 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.