Polen Capital Management LLC Acquires 43,109 Shares of Rambus Inc. (NASDAQ:RMBS)

Polen Capital Management LLC boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 76.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,259 shares of the semiconductor company’s stock after purchasing an additional 43,109 shares during the period. Polen Capital Management LLC owned about 0.09% of Rambus worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 640 shares in the last quarter. Quarry LP boosted its holdings in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 4.8 %

Shares of NASDAQ RMBS opened at $54.43 on Monday. The firm’s 50-day moving average price is $59.66 and its 200-day moving average price is $52.45. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 32.79 and a beta of 1.25. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Insider Activity at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

RMBS has been the subject of several research analyst reports. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Evercore ISI started coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Rosenblatt Securities upped their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One equities 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 company’s stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus target price of $76.71.

About Rambus

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.