Congress Wealth Management LLC DE Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Congress Wealth Management LLC DE purchased a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 120,733 shares of the semiconductor company's stock, valued at approximately $6,382,000. Congress Wealth Management LLC DE owned about 0.11% of Rambus as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Lindbrook Capital LLC grew its holdings in Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after buying an additional 166 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Rambus by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock worth $2,400,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after acquiring an additional 202 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after acquiring an additional 246 shares during the period. Finally, Quarry LP raised its stake in 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 purchasing an additional 264 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

Several research analysts have recently issued reports on RMBS shares. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Rosenblatt Securities boosted their price objective on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rambus has an average rating of "Buy" and a consensus price target of $76.71.

Rambus Trading Down 3.1 %

RMBS stock traded down $1.74 during trading on Friday, hitting $53.70. The company had a trading volume of 975,843 shares, compared to its average volume of 1,299,832. The company has a fifty day moving average price of $59.37 and a two-hundred day moving average price of $53.51. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The company has a market cap of $5.77 billion, a P/E ratio of 32.35 and a beta of 1.25.

Insider Activity

In other news, 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 value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares of the company's stock, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares of the company's stock, valued at $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. In the last quarter, insiders have sold 76,952 shares of company stock worth $4,992,255. Corporate insiders own 1.00% of the company's stock.

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.