SG Americas Securities LLC Grows Position in Rambus Inc. (NASDAQ:RMBS)

SG Americas Securities LLC increased its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 1,657.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 552,173 shares of the semiconductor company's stock after buying an additional 520,754 shares during the period. SG Americas Securities LLC owned 0.52% of Rambus worth $29,188,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased 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 worth $203,463,000 after buying an additional 164,830 shares during the period. Geode Capital Management LLC increased its position in Rambus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock valued at $110,693,000 after purchasing an additional 21,053 shares during the period. Swedbank AB increased its position in Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock valued at $73,589,000 after purchasing an additional 193,150 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Rambus by 32.3% during the 3rd 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, Assenagon Asset Management S.A. increased its position in Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock valued at $53,483,000 after purchasing an additional 978,417 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Rosenblatt Securities reissued a "buy" rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 price target for the company. Loop Capital initiated coverage on shares of Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 target price for the company. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Finally, Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They set an "outperform" rating and a $90.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $74.67.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Down 1.7 %

RMBS traded down $1.10 on Thursday, reaching $63.41. The company's stock had a trading volume of 276,328 shares, compared to its average volume of 638,124. The stock has a 50 day moving average of $56.56 and a two-hundred day moving average of $50.41. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 39.37 and a beta of 1.23. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $75.98.

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.