Principal Financial Group Inc. Acquires 4,725 Shares of Rambus Inc. (NASDAQ:RMBS)

Principal Financial Group Inc. lifted its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 330,134 shares of the semiconductor company's stock after acquiring an additional 4,725 shares during the quarter. Principal Financial Group Inc. owned approximately 0.31% of Rambus worth $17,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. increased its position in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 455 shares during the last quarter. Quarry LP increased its position in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 264 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock valued at $166,000 after acquiring an additional 514 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Rambus in the fourth quarter valued at about $203,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rambus by 448.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 3,245 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Trading Up 3.7 %

Shares of NASDAQ:RMBS traded up $1.98 during trading on Friday, reaching $55.89. 1,431,301 shares of the stock were exchanged, compared to its average volume of 1,034,628. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $69.15. The firm has a market cap of $5.96 billion, a PE ratio of 33.67 and a beta of 1.26. The stock has a 50-day moving average price of $59.84 and a 200-day moving average price of $51.84.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RMBS shares. Loop Capital initiated coverage on Rambus in a research report on Monday, November 11th. They issued a "buy" rating and a $70.00 target price on the stock. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. Baird R W raised Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rambus currently has an average rating of "Buy" and an average price target of $76.71.

Insider Transactions at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value 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 approximately $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the business'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 completion of the sale, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,360 shares of company stock worth $4,182,809 over the last quarter. Company insiders own 1.00% of the company's stock.

Rambus Company Profile

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.