974,284 Shares in Rambus Inc. (NASDAQ:RMBS) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 974,284 shares of the semiconductor company's stock, valued at approximately $51,500,000. Raymond James Financial Inc. owned approximately 0.91% of Rambus at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in shares of Rambus by 0.7% during the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock valued at $1,651,000 after purchasing an additional 202 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock valued at $472,000 after purchasing an additional 246 shares in the last quarter. Quarry LP increased its stake in shares of Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. Chartwell Investment Partners LLC increased its stake in shares of Rambus by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company's stock valued at $1,645,000 after purchasing an additional 318 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Rambus by 4.3% during the third quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock valued at $361,000 after purchasing an additional 350 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Trading Down 0.8 %

Shares of RMBS stock opened at $51.55 on Wednesday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The firm's 50 day moving average is $59.71 and its 200 day moving average is $52.27. The stock has a market capitalization of $5.51 billion, a P/E ratio of 31.05 and a beta of 1.25.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,360 shares of company stock worth $4,182,809. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

RMBS has been the subject of a number of analyst reports. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Finally, Evercore ISI began 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 analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $76.71.

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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.

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