PNC Financial Services Group Inc. Increases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

PNC Financial Services Group Inc. boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 71.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,284 shares of the semiconductor company’s stock after buying an additional 6,781 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rambus were worth $861,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. SG Americas Securities LLC increased 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 purchasing an additional 520,754 shares during the last quarter. World Investment Advisors LLC bought a new position in Rambus during the third quarter valued at about $989,000. Campbell Newman Asset Management Inc. increased its holdings 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 worth $2,064,000 after buying an additional 16,376 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Rambus in the third quarter valued at about $2,077,000. Finally, FORA Capital LLC grew its position in shares of Rambus by 63.7% during the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock valued at $1,701,000 after acquiring an additional 15,671 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of RMBS opened at $54.51 on Tuesday. The company has a 50-day simple moving average of $59.60 and a two-hundred day simple moving average of $52.52. The firm has a market capitalization of $5.86 billion, a PE ratio of 32.84 and a beta of 1.25. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

Analysts Set New Price Targets

A number of research firms have issued reports on RMBS. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Wells Fargo & Company lifted their price objective on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Finally, Susquehanna boosted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $76.71.

Insiders Place Their Bets

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the transaction, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the firm’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 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. Corporate insiders own 1.00% of the company’s stock.

Rambus Company Profile

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.