Amundi Buys New Shares in Rambus Inc. (NASDAQ:RMBS)

Amundi bought a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,373 shares of the semiconductor company's stock, valued at approximately $1,163,000.

Several other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Rambus by 71.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,284 shares of the semiconductor company's stock worth $861,000 after acquiring an additional 6,781 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Rambus by 7.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company's stock valued at $252,000 after purchasing an additional 317 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 166 shares during the period. Inceptionr LLC acquired a new stake in shares of Rambus in the fourth quarter valued at about $1,499,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rambus in the fourth quarter valued at about $51,500,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated 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 sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,952 shares of company stock worth $4,405,855 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

RMBS has been the subject of several recent analyst reports. Baird R W upgraded shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Finally, Susquehanna raised their price objective 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. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $76.71.

Rambus Price Performance

RMBS traded down $0.10 during midday trading on Friday, reaching $56.72. 1,222,949 shares of the company's stock were exchanged, compared to its average volume of 1,268,809. The stock has a market capitalization of $6.09 billion, a PE ratio of 34.17 and a beta of 1.25. The business's 50-day moving average price is $59.56 and its 200 day moving average price is $52.73. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15.

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.