Epoch Investment Partners Inc. acquired a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,688 shares of the semiconductor company's stock, valued at approximately $459,000.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock worth $665,771,000 after purchasing an additional 31,645 shares during the period. Invesco Ltd. increased its position in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after buying an additional 2,093,953 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after purchasing an additional 68,975 shares during the last quarter. Norges Bank bought a new position in shares of Rambus in the fourth quarter worth approximately $94,368,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock valued at $66,062,000 after buying an additional 5,761 shares during the last quarter. 88.54% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Rambus news, CEO Luc Seraphin sold 6,348 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer now directly owns 319,241 shares of the company's stock, valued at $14,994,749.77. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction 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 company'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 completion of 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 trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,300 shares of company stock valued at $6,745,221. 1.00% of the stock is owned by corporate insiders.
Rambus Stock Up 3.2 %
NASDAQ:RMBS traded up $1.58 during mid-day trading on Friday, hitting $50.94. 942,524 shares of the company traded hands, compared to its average volume of 1,299,843. The stock's fifty day moving average price is $52.28 and its 200-day moving average price is $54.33. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 30.69 and a beta of 1.20. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.
Analyst Upgrades and Downgrades
Several brokerages have commented on RMBS. Susquehanna increased their target price on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. One 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $76.71.
Check Out Our Latest Report on Rambus
About Rambus
(
Free Report)
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.
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