Empowered Funds LLC Buys 10,450 Shares of Rambus Inc. (NASDAQ:RMBS)

Empowered Funds LLC lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 160.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,967 shares of the semiconductor company's stock after purchasing an additional 10,450 shares during the quarter. Empowered Funds LLC's holdings in Rambus were worth $897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meritage Portfolio Management boosted its position in shares of Rambus by 84.3% during the 4th quarter. Meritage Portfolio Management now owns 25,204 shares of the semiconductor company's stock worth $1,332,000 after purchasing an additional 11,531 shares in the last quarter. Choreo LLC boosted its position in shares of Rambus by 10.2% during the 4th quarter. Choreo LLC now owns 11,837 shares of the semiconductor company's stock worth $634,000 after purchasing an additional 1,094 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Rambus by 448.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock worth $215,000 after purchasing an additional 3,245 shares in the last quarter. KBC Group NV boosted its position in shares of Rambus by 54.8% during the 4th quarter. KBC Group NV now owns 4,008 shares of the semiconductor company's stock worth $212,000 after purchasing an additional 1,419 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Rambus by 8.6% in the 4th quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company's stock valued at $233,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price target on the stock. Rosenblatt Securities lifted their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They set a "buy" rating and a $70.00 target price on the stock. Finally, StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rambus currently has a consensus rating of "Buy" and an average target price of $77.29.

Rambus Stock Performance

Rambus stock traded down $2.22 during mid-day trading on Friday, reaching $62.73. The company's stock had a trading volume of 834,897 shares, compared to its average volume of 1,034,415. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The company has a market capitalization of $6.69 billion, a P/E ratio of 37.79 and a beta of 1.26. The firm's fifty day moving average price is $59.58 and its two-hundred day moving average price is $51.17.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of the business's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company's stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,360 shares of company stock worth $4,182,809. Corporate insiders own 1.00% of the company's stock.

About Rambus

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.