Meeder Asset Management Inc. Buys 1,582 Shares of Rambus Inc. (NASDAQ:RMBS)

Meeder Asset Management Inc. raised its stake in Rambus Inc. (NASDAQ:RMBS) by 58.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,298 shares of the semiconductor company’s stock after acquiring an additional 1,582 shares during the period. Meeder Asset Management Inc.’s holdings in Rambus were worth $181,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RMBS. Swedbank AB acquired a new stake in shares of Rambus in the 1st quarter valued at $61,377,000. Assenagon Asset Management S.A. boosted its position in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares in the last quarter. AQR Capital Management LLC grew its stake in Rambus by 559.7% during the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after buying an additional 486,078 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after buying an additional 410,332 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings 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 in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $52.29 on Wednesday. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The company’s 50 day simple moving average is $44.60 and its 200 day simple moving average is $50.38. The firm has a market capitalization of $5.57 billion, a P/E ratio of 32.48 and a beta of 1.17.

Analyst Upgrades and Downgrades

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

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.