Invesco Ltd. Raises Stake in Rambus Inc. (NASDAQ:RMBS)

Invesco Ltd. lifted its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 72.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,999,748 shares of the semiconductor company's stock after acquiring an additional 2,093,953 shares during the period. Invesco Ltd. owned approximately 4.69% of Rambus worth $264,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after buying an additional 31,645 shares in the last quarter. State Street Corp raised its position in Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after acquiring an additional 164,830 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after purchasing an additional 68,975 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock valued at $110,693,000 after buying an additional 21,053 shares during the last quarter. Finally, Norges Bank bought a new position in Rambus during the fourth quarter worth $94,368,000. Institutional investors own 88.54% of the company's stock.

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Rambus Stock Down 2.5 %

RMBS traded down $1.20 during trading on Wednesday, hitting $46.27. 228,341 shares of the company's stock were exchanged, compared to its average volume of 1,003,932. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $69.15. The stock has a market cap of $4.97 billion, a P/E ratio of 27.87 and a beta of 1.20. The business's 50 day moving average is $55.22 and its two-hundred day moving average is $54.11.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of research reports. StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Rosenblatt Securities lifted their price objective on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their target price on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $76.71.

Insider Buying and Selling

In other news, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the transaction, the chief executive officer now owns 336,844 shares in the company, valued at $15,767,667.64. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, 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. Insiders have sold 96,952 shares of company stock worth $5,969,155 in the last quarter. 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.