Rambus Inc. (NASDAQ:RMBS) Shares Bought by Comerica Bank

Comerica Bank increased its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 21.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,657 shares of the semiconductor company's stock after acquiring an additional 21,647 shares during the period. Comerica Bank owned approximately 0.11% of Rambus worth $6,378,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the period. Invesco Ltd. raised its position in shares of Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after buying an additional 2,093,953 shares during the period. Norges Bank acquired a new position in Rambus in the fourth quarter valued at $94,368,000. Raymond James Financial Inc. acquired a new position in Rambus in the fourth quarter valued at $51,500,000. Finally, Congress Asset Management Co. purchased a new stake in Rambus during the fourth quarter valued at about $45,778,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on RMBS shares. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a research note on Sunday. Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $75.00.

Insider Transactions at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the firm's 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 approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now directly owns 42,000 shares in the company, 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. Over the last ninety days, insiders have sold 113,300 shares of company stock valued at $6,745,221. 1.00% of the stock is currently owned by insiders.

Rambus Price Performance

RMBS traded up $0.77 during trading hours on Thursday, reaching $51.64. 1,280,762 shares of the stock traded hands, compared to its average volume of 1,292,440. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 31.11 and a beta of 1.24. The firm's fifty day simple moving average is $50.73 and its two-hundred day simple moving average is $54.73.

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.