Rambus Inc. (NASDAQ:RMBS) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,933 shares of the semiconductor company’s stock after purchasing an additional 21,552 shares during the quarter. Wells Fargo & Company MN’s holdings in Rambus were worth $5,177,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Rambus by 1,657.4% in the fourth 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 last quarter. World Investment Advisors LLC bought a new stake in Rambus during the third quarter worth approximately $989,000. Campbell Newman Asset Management Inc. boosted its stake 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 acquiring an additional 16,376 shares in the last quarter. Atria Investments Inc purchased a new position in Rambus in the 4th quarter worth about $336,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Rambus by 28.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock worth $682,000 after acquiring an additional 2,853 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Rambus stock opened at $45.72 on Monday. The business has a 50 day simple moving average of $53.99 and a 200 day simple moving average of $54.31. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a market capitalization of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RMBS. StockNews.com raised Rambus from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Rosenblatt Securities lifted their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, Susquehanna increased their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.71.

Insider Activity

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s 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 transaction, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the firm’s 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 sale, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,952 shares of company stock worth $6,447,055. 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.