Congress Asset Management Co. Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Congress Asset Management Co. bought a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 866,026 shares of the semiconductor company's stock, valued at approximately $45,778,000. Congress Asset Management Co. owned approximately 0.81% of Rambus at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. lifted its stake in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock worth $61,765,000 after purchasing an additional 357,160 shares in the last quarter. SG Americas Securities LLC lifted its stake in Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after purchasing an additional 520,754 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Rambus in the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. lifted its stake in Rambus by 72.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock worth $2,064,000 after purchasing an additional 16,376 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Rambus in the 3rd quarter worth approximately $2,077,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent analyst reports. StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th. 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 report on Tuesday, February 4th. Evercore ISI initiated coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday, November 25th. They set an "outperform" rating and a $90.00 price objective on the stock. 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 report on Tuesday, February 4th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $77.29.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Rambus Stock Performance

NASDAQ:RMBS traded down $2.26 during trading hours on Wednesday, reaching $66.33. The company's stock had a trading volume of 1,333,372 shares, compared to its average volume of 1,050,143. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 39.96 and a beta of 1.26. The firm has a 50-day simple moving average of $59.09 and a 200-day simple moving average of $50.78. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15.

Rambus Company 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.