US Bancorp DE Increases Holdings in Rambus Inc. (NASDAQ:RMBS)

US Bancorp DE boosted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 24.9% in the 4th quarter, Holdings Channel reports. The fund owned 11,686 shares of the semiconductor company’s stock after buying an additional 2,327 shares during the period. US Bancorp DE’s holdings in Rambus were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new stake in Rambus in the fourth quarter valued at approximately $978,000. Amalgamated Bank boosted its stake in shares of Rambus by 0.9% in the fourth quarter. Amalgamated Bank now owns 48,847 shares of the semiconductor company’s stock worth $2,582,000 after acquiring an additional 426 shares during the last quarter. South Dakota Investment Council acquired a new stake in shares of Rambus in the fourth quarter worth approximately $1,460,000. New York State Common Retirement Fund boosted its stake in shares of Rambus by 14.2% in the fourth quarter. New York State Common Retirement Fund now owns 182,460 shares of the semiconductor company’s stock worth $9,645,000 after acquiring an additional 22,660 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Rambus by 0.9% in the fourth quarter. Rice Hall James & Associates LLC now owns 68,874 shares of the semiconductor company’s stock worth $3,641,000 after acquiring an additional 631 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on 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 sale, the director now owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,360 shares of company stock valued at $4,182,809. Insiders own 1.00% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS opened at $51.55 on Wednesday. The stock’s fifty day moving average is $59.71 and its two-hundred day moving average is $52.27. The firm has a market capitalization of $5.51 billion, a P/E ratio of 31.05 and a beta of 1.25. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average price target 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.