Rhumbline Advisers Grows Position in Rambus Inc. (NASDAQ:RMBS)

Rhumbline Advisers grew its stake in Rambus Inc. (NASDAQ:RMBS) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 331,966 shares of the semiconductor company’s stock after acquiring an additional 2,762 shares during the period. Rhumbline Advisers’ holdings in Rambus were worth $17,548,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. grew its holdings in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock valued at $61,765,000 after buying an additional 357,160 shares during the period. SG Americas Securities LLC grew its stake 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 during the period. World Investment Advisors LLC purchased a new stake in shares of Rambus during the 3rd quarter valued at $989,000. Campbell Newman Asset Management Inc. increased its holdings in shares of Rambus by 72.2% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock worth $2,064,000 after buying an additional 16,376 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Rambus in the 3rd quarter worth $2,077,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the subject of several research analyst reports. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird assumed coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. 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, Rambus has an average rating of “Buy” and an average target price of $77.29.

Rambus Stock Performance

RMBS opened at $62.73 on Friday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $69.15. The company has a 50-day moving average of $59.58 and a 200-day moving average of $51.17. The company has a market capitalization of $6.69 billion, a P/E ratio of 37.79 and a beta of 1.26.

Insider Activity at Rambus

In other news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,360 shares of company stock valued at $4,182,809 over the last three months. 1.00% of the stock is owned by insiders.

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.