Canada Pension Plan Investment Board Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Canada Pension Plan Investment Board acquired a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 235,700 shares of the semiconductor company's stock, valued at approximately $12,459,000. Canada Pension Plan Investment Board owned 0.22% of Rambus at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 640 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after purchasing an additional 891 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Rambus during the fourth quarter valued at about $73,000. Finally, Lindbrook Capital LLC boosted its position in Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 166 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Price Performance

NASDAQ RMBS traded up $3.42 during trading on Thursday, reaching $49.36. The company's stock had a trading volume of 1,502,015 shares, compared to its average volume of 1,301,577. The firm has a fifty day moving average of $52.91 and a 200 day moving average of $54.21. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The stock has a market capitalization of $5.30 billion, a PE ratio of 29.73 and a beta of 1.20.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMBS. Susquehanna upped their price target 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. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $76.71.

Insider Activity at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction 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. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,300 shares of company stock valued at $6,745,221 over the last three months. 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.