Ontario Teachers Pension Plan Board Trims Holdings in Rambus Inc. (NASDAQ:RMBS)

Ontario Teachers Pension Plan Board lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 34.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,336 shares of the semiconductor company’s stock after selling 6,081 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Rambus were worth $479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP purchased a new position in shares of Rambus during the second quarter valued at approximately $38,000. Fifth Third Bancorp lifted its position 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 acquiring an additional 296 shares in the last quarter. Blue Trust Inc. boosted its stake in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the second quarter worth $87,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMBS. Loop Capital began coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Wells Fargo & Company started coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target for the company. Susquehanna reduced their price objective 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.60.

Rambus Trading Up 2.8 %

Shares of NASDAQ RMBS opened at $54.45 on Friday. The company has a 50 day simple moving average of $45.08 and a two-hundred day simple moving average of $50.37. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 32.89 and a beta of 1.17. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

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.