Castleark Management LLC Acquires New Shares in Rambus Inc. (NASDAQ:RMBS)

Castleark Management LLC bought a new stake in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 139,890 shares of the semiconductor company’s stock, valued at approximately $7,395,000. Castleark Management LLC owned 0.13% of Rambus at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its position in shares of Rambus by 28.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock valued at $682,000 after acquiring an additional 2,853 shares during the period. Diversify Advisory Services LLC bought a new stake in Rambus in the fourth quarter valued at approximately $476,000. UMB Bank n.a. increased its stake in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 455 shares in the last quarter. Dakota Wealth Management acquired a new stake in Rambus in the fourth quarter worth $292,000. Finally, SG Americas Securities LLC boosted its position in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after purchasing an additional 520,754 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMBS. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Monday. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Susquehanna lifted their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 price objective on shares of Rambus in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $75.00.

Rambus Price Performance

RMBS stock opened at $55.65 on Wednesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 33.52 and a beta of 1.24. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The business has a 50-day moving average of $51.13 and a 200-day moving average of $55.42.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the sale, the director now directly owns 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. 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 Rambus stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total value of $468,100.00. Following the completion of the sale, the chief executive officer now directly owns 336,844 shares in the company, valued at approximately $15,767,667.64. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,001 shares of company stock worth $3,080,226. 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.