KLP Kapitalforvaltning AS Purchases Shares of 22,300 Rambus Inc. (NASDAQ:RMBS)

KLP Kapitalforvaltning AS acquired a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,300 shares of the semiconductor company’s stock, valued at approximately $1,179,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its stake in Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after buying an additional 166 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Rambus by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after acquiring an additional 200 shares during the last quarter. Arizona State Retirement System grew its holdings in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after purchasing an additional 202 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Rambus by 2.8% during the fourth 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 during the last quarter. Finally, Quarry LP raised its stake in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Buy” and an average price target of $76.71.

Rambus Trading Down 3.1 %

NASDAQ RMBS opened at $53.70 on Friday. The company’s fifty day simple moving average is $59.37 and its 200-day simple moving average is $53.42. The stock has a market cap of $5.77 billion, a P/E ratio of 32.35 and a beta of 1.25. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the transaction, the chief executive officer now owns 316,931 shares in the company, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,952 shares of company stock worth $4,992,255 in the last quarter. 1.00% of the stock is owned by corporate insiders.

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.