American Century Companies Inc. Has $62.18 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

American Century Companies Inc. lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,176,352 shares of the semiconductor company's stock after purchasing an additional 74,478 shares during the quarter. American Century Companies Inc. owned about 1.10% of Rambus worth $62,182,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RMBS. State Street Corp increased its position in shares of Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock valued at $203,463,000 after purchasing an additional 164,830 shares during the period. Geode Capital Management LLC grew its holdings in Rambus by 0.8% during 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 period. Charles Schwab Investment Management Inc. raised its position in Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after acquiring an additional 5,761 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Rambus in the 4th quarter valued at about $51,500,000. Finally, Congress Asset Management Co. bought a new position in shares of Rambus during the 4th quarter valued at about $45,778,000. Institutional investors and hedge funds own 88.54% of the company's stock.

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Rambus Stock Down 3.1 %

Shares of RMBS traded down $1.74 during mid-day trading on Friday, reaching $53.70. The company's stock had a trading volume of 975,843 shares, compared to its average volume of 1,299,832. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 32.35 and a beta of 1.25. The business has a fifty day moving average of $59.37 and a 200 day moving average of $53.42. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Insider Buying and Selling

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the 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 completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 76,952 shares of company stock worth $4,992,255. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

RMBS has been the subject of several recent research reports. StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Rosenblatt Securities increased their price objective on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $76.71.

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.