Wells Fargo & Company MN Has $5.18 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Wells Fargo & Company MN lifted its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,933 shares of the semiconductor company's stock after buying an additional 21,552 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Rambus worth $5,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arete Wealth Advisors LLC acquired a new position in Rambus during the 4th quarter worth $295,000. B. Metzler seel. Sohn & Co. AG grew its position in Rambus by 10.3% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 46,479 shares of the semiconductor company's stock valued at $2,457,000 after buying an additional 4,332 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Rambus by 5.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,383 shares of the semiconductor company's stock valued at $972,000 after buying an additional 877 shares during the period. Norges Bank bought a new stake in shares of Rambus during the 4th quarter worth about $94,368,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after acquiring an additional 68,975 shares during the period. 88.54% of the stock is owned by institutional investors.

Insider Activity

In other Rambus news, CEO Luc Seraphin sold 6,348 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the transaction, the chief executive officer now owns 319,241 shares in the company, valued at approximately $14,994,749.77. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on 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 sale, the chief operating officer now directly owns 93,841 shares of the company's stock, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,300 shares of company stock worth $6,745,221 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Rambus Price Performance

Rambus stock traded up $0.45 during midday trading on Friday, reaching $49.81. The stock had a trading volume of 234,889 shares, compared to its average volume of 1,297,406. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 30.01 and a beta of 1.20. The firm's fifty day simple moving average is $52.63 and its two-hundred day simple moving average is $54.26.

Analyst Ratings Changes

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