Proficio Capital Partners LLC Invests $978,000 in Rambus Inc. (NASDAQ:RMBS)

Proficio Capital Partners LLC purchased a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 18,501 shares of the semiconductor company's stock, valued at approximately $978,000.

Several other large investors have also modified their holdings of RMBS. State Street Corp lifted its stake in Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock valued at $203,463,000 after buying an additional 164,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock worth $110,693,000 after acquiring an additional 21,053 shares during the last quarter. Swedbank AB lifted its position in shares of Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock valued at $73,589,000 after acquiring an additional 193,150 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock valued at $66,062,000 after acquiring an additional 5,761 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Rambus by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company's stock worth $38,092,000 after purchasing an additional 356,496 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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Rambus Trading Up 0.1 %

Shares of RMBS traded up $0.07 during mid-day trading on Tuesday, reaching $58.94. The company had a trading volume of 695,774 shares, compared to its average volume of 1,266,742. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The firm has a fifty day simple moving average of $59.62 and a 200-day simple moving average of $53.04. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 35.51 and a beta of 1.25.

Analysts Set New Price Targets

A number of research analysts have issued reports on RMBS shares. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Finally, Evercore ISI assumed coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Rambus presently has a consensus rating of "Buy" and an average price target of $76.71.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,952 shares of company stock worth $4,405,855 over the last three months. 1.00% of the stock is owned by insiders.

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.