KLP Kapitalforvaltning AS Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

KLP Kapitalforvaltning AS acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,300 shares of the semiconductor company's stock, valued at approximately $1,179,000.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 640 shares during the last quarter. Quarry LP grew its position in 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 in the last quarter. Farther Finance Advisors LLC raised its position in Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after purchasing an additional 891 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of 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 purchasing an additional 166 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

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Insider Transactions at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $50.88, for a total value of $508,800.00. Following the transaction, the chief executive officer now owns 346,844 shares in the company, valued at $17,647,422.72. The trade was a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares of the company's stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,952 shares of company stock valued at $5,501,055. Corporate insiders own 1.00% of the company's stock.

Rambus Stock Performance

Rambus stock traded down $6.53 during mid-day trading on Thursday, reaching $46.15. 1,792,208 shares of the company were exchanged, compared to its average volume of 1,299,075. The firm has a market cap of $4.96 billion, a P/E ratio of 27.80 and a beta of 1.25. The business has a fifty day moving average of $58.36 and a 200 day moving average of $53.62. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of analyst reports. StockNews.com cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on 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 raised their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $76.71.

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.