Norges Bank Buys Shares of 1,785,242 Rambus Inc. (NASDAQ:RMBS)

Norges Bank bought a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,785,242 shares of the semiconductor company's stock, valued at approximately $94,368,000. Norges Bank owned approximately 1.68% of Rambus at the end of the most recent reporting period.

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

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the completion of the transaction, the chief executive officer now directly owns 346,844 shares of the company's stock, valued at $17,647,422.72. This represents a 2.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,952 shares of company stock worth $5,501,055. 1.00% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

RMBS has been the topic of a number of analyst reports. Susquehanna upped their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. 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's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $76.71.

Rambus Stock Performance

NASDAQ:RMBS traded down $3.02 during trading on Friday, reaching $43.13. The company's stock had a trading volume of 1,796,421 shares, compared to its average volume of 1,302,094. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 25.98 and a beta of 1.20. The firm has a 50 day moving average of $57.96 and a 200-day moving average of $53.85.

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.