825,288 Shares in Rambus Inc. (NASDAQ:RMBS) Purchased by Analog Century Management LP

Analog Century Management LP purchased a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 825,288 shares of the semiconductor company's stock, valued at approximately $43,625,000. Rambus comprises 2.9% of Analog Century Management LP's portfolio, making the stock its 21st biggest holding. Analog Century Management LP owned approximately 0.77% of Rambus as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after purchasing an additional 31,645 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after buying an additional 4,445,146 shares in the last quarter. Invesco Ltd. increased its holdings in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after buying an additional 2,093,953 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after acquiring an additional 68,975 shares in the last quarter. Finally, Norges Bank acquired a new stake in Rambus in the fourth quarter valued at approximately $94,368,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RMBS shares. Susquehanna raised their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. StockNews.com lowered Rambus from a "buy" rating to a "hold" rating in a report on Saturday. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company increased their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. One investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $76.71.

Rambus Stock Up 2.5 %

Rambus stock traded up $1.28 during mid-day trading on Monday, reaching $52.22. The company had a trading volume of 2,021,819 shares, compared to its average volume of 1,026,965. The company has a 50 day moving average of $52.28 and a 200-day moving average of $54.50. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 31.46 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15.

Insider Transactions at Rambus

In other Rambus news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 6,348 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the transaction, the chief executive officer now owns 319,241 shares of the company's stock, valued at approximately $14,994,749.77. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,300 shares of company stock valued at $6,745,221. 1.00% of the stock is owned by corporate 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.