Assetmark Inc. boosted its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,946 shares of the semiconductor company's stock after buying an additional 6,208 shares during the quarter. Assetmark Inc. owned 0.10% of Rambus worth $5,547,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in RMBS. Charles Schwab Investment Management Inc. grew its position in Rambus by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after purchasing an additional 5,761 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Rambus in the fourth quarter worth about $211,000. US Bancorp DE raised its holdings in Rambus by 24.9% in the 4th quarter. US Bancorp DE now owns 11,686 shares of the semiconductor company's stock worth $618,000 after purchasing an additional 2,327 shares during the period. Proficio Capital Partners LLC purchased a new position in Rambus during the fourth quarter worth approximately $978,000. Finally, Amalgamated Bank grew its holdings in Rambus by 0.9% in the fourth quarter. Amalgamated Bank now owns 48,847 shares of the semiconductor company's stock valued at $2,582,000 after purchasing an additional 426 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Rambus
In related news, Director Meera Rao sold 5,408 shares of the business's stock in a transaction on Thursday, December 12th. The stock was 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. The trade was a 15.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,360 shares of company stock valued at $4,182,809 over the last quarter. 1.00% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities research analysts recently commented on RMBS shares. Rosenblatt Securities boosted their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Susquehanna lifted their price objective on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Evercore ISI started coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $76.71.
Get Our Latest Analysis on Rambus
Rambus Trading Up 2.0 %
NASDAQ RMBS traded up $1.03 during trading hours on Wednesday, reaching $52.58. The company had a trading volume of 613,642 shares, compared to its average volume of 1,294,940. The stock has a market capitalization of $5.62 billion, a P/E ratio of 31.68 and a beta of 1.25. The stock has a 50-day moving average of $59.71 and a 200 day moving average of $52.27. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15.
About Rambus
(
Free Report)
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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