Prudential Financial Inc. Acquires 16,571 Shares of Rambus Inc. (NASDAQ:RMBS)

Prudential Financial Inc. raised its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,241 shares of the semiconductor company's stock after purchasing an additional 16,571 shares during the period. Prudential Financial Inc. owned 0.27% of Rambus worth $15,289,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RMBS. SG Americas Securities LLC grew 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 during the last quarter. World Investment Advisors LLC bought a new stake in Rambus during the third quarter valued at about $989,000. Campbell Newman Asset Management Inc. grew its position in shares of Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after purchasing an additional 16,376 shares during the last quarter. FORA Capital LLC increased its stake in shares of Rambus by 63.7% in the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock worth $1,701,000 after purchasing an additional 15,671 shares during the period. Finally, Atria Investments Inc acquired a new position in shares of Rambus during the 4th quarter worth about $336,000. Institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of research analyst reports. Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the stock 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 Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. One research 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 data from MarketBeat.com, Rambus has an average rating of "Buy" and an average target price of $76.71.

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Rambus Stock Up 1.0 %

Rambus stock traded up $0.51 on Tuesday, hitting $52.29. The company's stock had a trading volume of 976,513 shares, compared to its average volume of 1,297,690. The company has a fifty day moving average price of $58.95 and a 200-day moving average price of $53.68. The firm has a market cap of $5.62 billion, a P/E ratio of 31.50 and a beta of 1.25. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

Insider Activity at Rambus

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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares in the company, valued at $17,998,433.84. This represents a 3.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,952 shares of company stock valued at $4,992,255 over the last quarter. 1.00% of the stock is owned by company insiders.

Rambus 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.