Equitable Trust Co. Invests $305,000 in Rambus Inc. (NASDAQ:RMBS)

Equitable Trust Co. purchased a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,775 shares of the semiconductor company's stock, valued at approximately $305,000.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after buying an additional 455 shares in the last quarter. Quarry LP boosted its position in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock worth $166,000 after acquiring an additional 514 shares during the last quarter. Moody National Bank Trust Division acquired a new position in Rambus during the fourth quarter valued at approximately $203,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rambus by 448.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock valued at $215,000 after buying an additional 3,245 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares of the company's stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMBS. StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 price target for the company. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rambus has an average rating of "Buy" and an average target price of $77.29.

Rambus Stock Up 0.6 %

Rambus stock traded up $0.36 during mid-day trading on Friday, hitting $62.96. 872,733 shares of the company were exchanged, compared to its average volume of 1,060,561. The business has a fifty day moving average of $59.00 and a 200 day moving average of $50.66. The company has a market capitalization of $6.71 billion, a PE ratio of 37.93 and a beta of 1.26. 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.