Corient Private Wealth LLC Takes Position in Rambus Inc. (NASDAQ:RMBS)

Corient Private Wealth LLC bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,098 shares of the semiconductor company's stock, valued at approximately $269,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Royce & Associates LP purchased a new position in shares of Rambus during the fourth quarter valued at about $6,350,000. Envestnet Portfolio Solutions Inc. purchased a new position in Rambus during the 4th quarter valued at approximately $331,000. Skandinaviska Enskilda Banken AB publ increased its position in Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 640 shares during the last quarter. Swiss National Bank grew its stake in shares of Rambus by 0.6% in the 4th quarter. Swiss National Bank now owns 211,800 shares of the semiconductor company's stock worth $11,196,000 after buying an additional 1,300 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake in Rambus by 26.1% during the fourth quarter. Truvestments Capital LLC now owns 19,829 shares of the semiconductor company's stock worth $1,048,000 after acquiring an additional 4,102 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Down 6.5 %

RMBS traded down $3.02 on Friday, reaching $43.13. 1,796,421 shares of the company traded hands, compared to its average volume of 1,302,094. The company has a market cap of $4.63 billion, a P/E ratio of 25.98 and a beta of 1.25. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The firm has a fifty day simple moving average of $57.96 and a two-hundred day simple moving average of $53.74.

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Analyst Ratings Changes

RMBS has been the subject of a number of recent research reports. Rosenblatt Securities lifted their target price on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Susquehanna increased their target price on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Finally, Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $76.71.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 4,625 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,952 shares of company stock worth $5,501,055. 1.00% of the stock is currently owned by company insiders.

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.