Proficio Capital Partners LLC Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

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

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake in shares of Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after purchasing an additional 164,830 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rambus by 0.8% in the 3rd 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 period. Swedbank AB grew its position in 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. Vaughan Nelson Investment Management L.P. raised its stake in shares of Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after purchasing an additional 357,160 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in shares of Rambus by 65.3% during the third 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. Hedge funds and other institutional investors own 88.54% of the company's stock.

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Rambus Stock Performance

Shares of Rambus stock traded down $0.43 during trading hours on Tuesday, reaching $51.55. The company's stock had a trading volume of 1,100,627 shares, compared to its average volume of 1,298,313. The stock has a market cap of $5.51 billion, a P/E ratio of 31.05 and a beta of 1.25. The company's 50 day simple moving average is $59.74 and its 200 day simple moving average is $52.24. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several analyst reports. Rosenblatt Securities lifted their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Finally, Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Rambus currently has an average rating of "Buy" and a consensus price target of $76.71.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,360 shares of company stock worth $4,182,809 in the last three months. 1.00% of the stock is owned by insiders.

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.