Cibc World Markets Corp Takes Position in Rambus Inc. (NASDAQ:RMBS)

Cibc World Markets Corp bought a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,999 shares of the semiconductor company's stock, valued at approximately $529,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. UMB Bank n.a. grew its stake 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 acquiring an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 640 shares during the last quarter. Quarry LP raised its position in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after buying an additional 264 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Rambus by 379.1% in the 4th 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. Finally, Lindbrook Capital LLC boosted its holdings in shares of Rambus by 12.3% in the 4th 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. Hedge funds and other institutional investors own 88.54% of the company's stock.

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Rambus Price Performance

RMBS traded down $2.30 during trading on Wednesday, reaching $56.64. 712,452 shares of the company's stock were exchanged, compared to its average volume of 1,261,153. The stock has a market capitalization of $6.09 billion, a P/E ratio of 34.12 and a beta of 1.25. The company's fifty day simple moving average is $59.66 and its 200-day simple moving average is $53.18. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMBS. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities increased their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $76.71.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at approximately $17,998,433.84. The trade was a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business's 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 of the company's stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,952 shares of company stock valued at $4,992,255. 1.00% of the stock is owned by company 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.