Price T Rowe Associates Inc. MD Increases Stock Position in Rambus Inc. (NASDAQ:RMBS)

Price T Rowe Associates Inc. MD grew its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 442.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,449,128 shares of the semiconductor company's stock after acquiring an additional 4,445,146 shares during the period. Price T Rowe Associates Inc. MD owned about 5.11% of Rambus worth $288,042,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMBS. Susquehanna increased their target price 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. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $75.00.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company's stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,300 shares of company stock valued at $6,745,221 over the last 90 days. 1.00% of the stock is owned by insiders.

Rambus Stock Performance

Shares of Rambus stock traded down $2.95 during trading hours on Tuesday, hitting $49.27. The company's stock had a trading volume of 2,417,992 shares, compared to its average volume of 1,307,068. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 29.68 and a beta of 1.20. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a fifty day moving average of $52.00 and a 200-day moving average of $54.56.

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.