Rambus Inc. (NASDAQ:RMBS) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,164 shares of the semiconductor company's stock after buying an additional 24,723 shares during the period. Van ECK Associates Corp owned 0.10% of Rambus worth $5,612,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RMBS. Equitable Trust Co. purchased a new position in shares of Rambus in the 4th quarter worth about $305,000. Stephens Investment Management Group LLC raised its holdings in shares of Rambus by 21.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 190,857 shares of the semiconductor company's stock worth $10,089,000 after purchasing an additional 33,980 shares during the period. WCM Investment Management LLC raised its holdings in shares of Rambus by 9.7% in the 4th quarter. WCM Investment Management LLC now owns 386,527 shares of the semiconductor company's stock worth $20,718,000 after purchasing an additional 34,124 shares during the period. Empowered Funds LLC raised its holdings in shares of Rambus by 160.3% in the 4th quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company's stock worth $897,000 after purchasing an additional 10,450 shares during the period. Finally, Meritage Portfolio Management raised its holdings in shares of Rambus by 84.3% in the 4th quarter. Meritage Portfolio Management now owns 25,204 shares of the semiconductor company's stock worth $1,332,000 after purchasing an additional 11,531 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Meera Rao sold 5,408 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares of the company's stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,360 shares of company stock worth $4,182,809. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of research reports. Baird R W upgraded Rambus to a "strong-buy" rating in a report on Monday, November 25th. Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their target price on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Evercore ISI started coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. Finally, Loop Capital started coverage on Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.71.

Rambus Stock Down 3.4 %

Shares of RMBS traded down $2.22 during mid-day trading on Friday, hitting $62.73. The stock had a trading volume of 834,897 shares, compared to its average volume of 1,246,395. The company has a market cap of $6.69 billion, a PE ratio of 37.79 and a beta of 1.26. The company's fifty day simple moving average is $59.69 and its two-hundred day simple moving average is $51.39. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $69.15.

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.