Glenmede Trust Co. NA Has $13.17 Million Position in Rambus Inc. (NASDAQ:RMBS)

Glenmede Trust Co. NA raised its stake in Rambus Inc. (NASDAQ:RMBS) by 32.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 311,910 shares of the semiconductor company’s stock after buying an additional 75,908 shares during the period. Glenmede Trust Co. NA owned about 0.29% of Rambus worth $13,169,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Rambus by 386.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after purchasing an additional 229,066 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 worth $61,765,000 after buying an additional 357,160 shares during the period. Swedbank AB increased its position in shares of Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock worth $91,069,000 after buying an additional 556,850 shares during the period. Harbor Capital Advisors Inc. raised its stake in Rambus by 559.4% during the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock worth $1,113,000 after buying an additional 16,067 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Rambus by 51.3% in the first quarter. Comerica Bank now owns 69,395 shares of the semiconductor company’s stock valued at $4,289,000 after buying an additional 23,526 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 1.1 %

Shares of RMBS opened at $57.12 on Friday. The stock has a market cap of $6.09 billion, a P/E ratio of 35.48 and a beta of 1.17. The business’s fifty day moving average is $47.14 and its 200 day moving average is $50.42. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RMBS shares. Robert W. Baird started coverage on Rambus in a research note on Monday. They issued an “outperform” rating and a $90.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. 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 price objective for the company. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday. Finally, Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus has a consensus 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.