South Dakota Investment Council purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,613 shares of the semiconductor company's stock, valued at approximately $1,460,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Nations Financial Group Inc. IA ADV raised its holdings in Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after purchasing an additional 246 shares in the last quarter. Quarry LP raised its holdings in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in Rambus by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company's stock worth $1,645,000 after purchasing an additional 318 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in Rambus by 4.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock worth $361,000 after purchasing an additional 350 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Rambus by 8.6% in the 4th quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company's stock worth $233,000 after buying an additional 350 shares during the period. 88.54% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meera Rao sold 5,408 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, the director now owns 29,090 shares in the company, valued at $1,693,619.80. The trade was a 15.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,360 shares of company stock worth $4,182,809. 1.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
RMBS has been the topic of a number of recent research reports. Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a research report on Wednesday, February 5th. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Finally, Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rambus has an average rating of "Buy" and a consensus price target of $76.71.
Read Our Latest Report on RMBS
Rambus Stock Down 7.9 %
Shares of RMBS stock traded down $4.65 on Thursday, hitting $53.91. The stock had a trading volume of 1,003,223 shares, compared to its average volume of 1,024,190. The business has a 50 day moving average price of $59.77 and a 200 day moving average price of $51.73. The company has a market cap of $5.75 billion, a PE ratio of 32.48 and a beta of 1.26. Rambus Inc. has a one year low of $37.42 and a one year high of $69.15.
Rambus Profile
(
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.
Further Reading
Before you consider Rambus, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rambus wasn't on the list.
While Rambus currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
