Royce & Associates LP bought a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 120,135 shares of the semiconductor company's stock, valued at approximately $6,350,000. Royce & Associates LP owned approximately 0.11% of Rambus at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC raised its position in shares of Rambus by 1,657.4% during 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 in the last quarter. World Investment Advisors LLC bought a new position in Rambus in the third quarter valued at $989,000. Campbell Newman Asset Management Inc. raised its position in Rambus by 72.2% during 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Rambus during the third quarter worth about $2,077,000. Finally, FORA Capital LLC boosted its holdings in shares of Rambus by 63.7% in the 3rd 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 in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company's stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,952 shares of company stock valued at $4,405,855 over the last ninety days. 1.00% of the stock is owned by insiders.
Rambus Price Performance
Rambus stock traded down $0.10 during trading hours on Friday, reaching $56.72. The stock had a trading volume of 1,222,949 shares, compared to its average volume of 1,268,809. The stock has a market cap of $6.09 billion, a PE ratio of 34.17 and a beta of 1.25. The company has a fifty day simple moving average of $59.56 and a 200-day simple moving average of $52.73. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on RMBS. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Baird R W raised shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Susquehanna lifted 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. Finally, Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus target price of $76.71.
View Our Latest Analysis on Rambus
About Rambus
(
Free Report)
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.
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