Rambus Inc. (NASDAQ:RMBS) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management raised its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 84.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,204 shares of the semiconductor company's stock after acquiring an additional 11,531 shares during the period. Meritage Portfolio Management's holdings in Rambus were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in RMBS. Sanctuary Advisors LLC purchased a new position in shares of Rambus during the second quarter worth approximately $240,000. SG Americas Securities LLC boosted its stake in Rambus by 249.7% during the 3rd quarter. SG Americas Securities LLC now owns 31,419 shares of the semiconductor company's stock worth $1,327,000 after purchasing an additional 22,435 shares during the period. Handelsbanken Fonder AB grew its position in Rambus by 33.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 32,397 shares of the semiconductor company's stock worth $1,368,000 after purchasing an additional 8,200 shares during the last quarter. GAMMA Investing LLC increased its stake in Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after purchasing an additional 1,769 shares during the period. Finally, Diversified Trust Co raised its holdings in shares of Rambus by 4.3% in the third quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company's stock valued at $1,142,000 after buying an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Rambus stock traded down $0.28 during midday trading on Friday, reaching $67.00. The company's stock had a trading volume of 1,315,431 shares, compared to its average volume of 1,060,561. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $69.15. The firm has a market capitalization of $7.14 billion, a PE ratio of 40.36 and a beta of 1.26. The stock's 50 day simple moving average is $58.44 and its 200 day simple moving average is $50.37.

Analysts Set New Price Targets

RMBS has been the subject of a number of recent research reports. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a research report on Wednesday. Baird R W raised Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Rosenblatt Securities upped their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $77.29.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company's stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.