Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its position in Rambus Inc. (NASDAQ:RMBS) by 42.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,808 shares of the semiconductor company’s stock after acquiring an additional 12,807 shares during the quarter. Pinebridge Investments L.P.’s holdings in Rambus were worth $2,263,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in shares of Rambus during the 3rd quarter worth $407,000. Sanctuary Advisors LLC increased its position in Rambus by 30.2% during the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 1,228 shares during the last quarter. World Investment Advisors LLC purchased a new position in Rambus during the third quarter worth about $989,000. Franklin Resources Inc. grew its stake in shares of Rambus by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company’s stock valued at $18,612,000 after buying an additional 27,764 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Rambus by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after buying an additional 514 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. Rosenblatt Securities raised their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus target price of $76.71.

Rambus Trading Up 3.2 %

NASDAQ RMBS opened at $50.94 on Monday. The business’s 50 day moving average is $52.28 and its two-hundred day moving average is $54.50. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 30.69 and a beta of 1.20. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the company’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 sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction on 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 owns 336,844 shares in the company, valued at $15,767,667.64. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,300 shares of company stock worth $6,745,221. 1.00% of the stock is owned by company insiders.

Rambus 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.