Diversify Wealth Management LLC lifted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) by 75.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,253 shares of the semiconductor company’s stock after buying an additional 13,470 shares during the period. Diversify Wealth Management LLC’s holdings in Rambus were worth $2,689,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD grew its stake in shares of Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after purchasing an additional 140,226 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares during the period. Geode Capital Management LLC raised its stake in shares of Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after purchasing an additional 1,551,159 shares in the last quarter. Finally, Norges Bank acquired a new stake in Rambus in the fourth quarter worth about $156,356,000. 88.54% of the stock is owned by institutional investors.
Rambus Price Performance
Rambus stock opened at $103.11 on Tuesday. Rambus, Inc. has a fifty-two week low of $61.16 and a fifty-two week high of $174.10. The firm’s 50 day simple moving average is $133.58 and its 200-day simple moving average is $113.91. The company has a market cap of $11.15 billion, a P/E ratio of 49.10 and a beta of 1.84.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on RMBS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Rosenblatt Securities boosted their target price on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Evercore reiterated an “outperform” rating and set a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.43.
Get Our Latest Stock Report on RMBS
Insider Buying and Selling
In other Rambus news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the sale, the director directly owned 19,218 shares in the company, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the sale, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,886 shares of company stock valued at $10,171,466. 0.75% of the stock is owned by corporate insiders.
Rambus Company Profile
Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.
Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.
Featured Articles
- Five stocks we like better than Rambus
- The SK Hynix IPO and 2027’s AI Memory Squeeze
- Meta Platforms Stock Rises as Muse Spark 1.1 AI Model Debuts
- Why Welltower’s Growth Story Might Outrun Its Rich Valuation
- One Short- and One Long-Term ETF for Quantum Computing Bulls
Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus, Inc. (NASDAQ:RMBS – Free Report).
Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.
