LPL Financial LLC Boosts Stake in Rambus Inc. (NASDAQ:RMBS)

LPL Financial LLC grew its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 16.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 63,364 shares of the semiconductor company's stock after buying an additional 9,183 shares during the period. LPL Financial LLC owned 0.06% of Rambus worth $3,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMBS. SG Americas Securities LLC boosted its holdings in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after buying an additional 520,754 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Rambus during the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. grew its holdings in shares of Rambus by 72.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock worth $2,064,000 after acquiring an additional 16,376 shares during the period. Atria Investments Inc acquired a new position in Rambus during the fourth quarter worth $336,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after purchasing an additional 2,853 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Up 0.5 %

Shares of NASDAQ RMBS traded up $0.23 during midday trading on Tuesday, reaching $47.47. 588,229 shares of the stock were exchanged, compared to its average volume of 1,307,286. The company has a market capitalization of $5.10 billion, a P/E ratio of 28.60 and a beta of 1.20. The stock has a 50 day moving average price of $55.62 and a 200-day moving average price of $54.16. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.

Remove Ads

Analyst Ratings Changes

A number of brokerages have recently weighed in on RMBS. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Susquehanna increased their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $76.71.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value 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. This trade represents a 9.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total transaction of $468,100.00. Following the transaction, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at approximately $15,767,667.64. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,952 shares of company stock valued at $5,969,155. Company 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.