Raymond James Financial Inc. Purchases Shares of 974,284 Rambus Inc. (NASDAQ:RMBS)

Raymond James Financial Inc. purchased a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 974,284 shares of the semiconductor company's stock, valued at approximately $51,500,000. Raymond James Financial Inc. owned approximately 0.91% of Rambus at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 640 shares in the last quarter. Farther Finance Advisors LLC raised its position in Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 891 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Rambus during the 4th quarter worth $73,000. Finally, Lindbrook Capital LLC boosted its position in Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after buying an additional 166 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Trading Down 0.4 %

NASDAQ RMBS traded down $0.20 during midday trading on Friday, hitting $45.72. The company had a trading volume of 739,112 shares, compared to its average volume of 1,306,914. The firm has a 50-day moving average price of $53.99 and a 200-day moving average price of $54.12. The company has a market capitalization of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

Insider Activity at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total transaction of $477,900.00. Following the completion of the sale, the chief executive officer now directly owns 326,844 shares in the company, valued at $15,619,874.76. This represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, 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 a total of 106,952 shares of company stock valued at $6,447,055 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Rosenblatt Securities lifted their price objective on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research note on Friday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $76.71.

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.