PNC Financial Services Group Inc. lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 71.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,284 shares of the semiconductor company's stock after buying an additional 6,781 shares during the period. PNC Financial Services Group Inc.'s holdings in Rambus were worth $861,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of RMBS. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Rambus by 7.9% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company's stock worth $252,000 after purchasing an additional 317 shares during the last quarter. Lindbrook Capital LLC boosted 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 worth $80,000 after buying an additional 166 shares during the last quarter. Inceptionr LLC bought a new position in shares of Rambus in the fourth quarter valued at approximately $1,499,000. Raymond James Financial Inc. purchased a new stake in shares of Rambus during the fourth quarter valued at approximately $51,500,000. Finally, Arizona State Retirement System lifted its holdings in Rambus by 0.7% during the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after acquiring an additional 202 shares during the period. Institutional investors own 88.54% of the company's stock.
Rambus Trading Down 0.2 %
Shares of Rambus stock traded down $0.10 on Friday, reaching $56.72. The stock had a trading volume of 1,216,635 shares, compared to its average volume of 1,273,538. The business's 50 day moving average is $59.55 and its two-hundred day moving average is $52.65. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The company has a market cap of $6.09 billion, a P/E ratio of 34.17 and a beta of 1.25.
Wall Street Analysts Forecast Growth
RMBS has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price target on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Wells Fargo & Company increased their target price 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. Finally, Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $76.71.
View Our Latest Report on RMBS
Insider Activity at Rambus
In related news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,952 shares of company stock valued at $4,405,855. Company insiders own 1.00% of the company's stock.
About Rambus
(
Free Report)
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.
Featured Stories
Before you consider Rambus, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rambus wasn't on the list.
While Rambus currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
