Crestline Management LP Purchases 151,782 Shares of Rambus Inc. (NASDAQ:RMBS)

Crestline Management LP boosted its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,113 shares of the semiconductor company's stock after buying an additional 151,782 shares during the quarter. Rambus makes up approximately 0.7% of Crestline Management LP's portfolio, making the stock its 14th biggest position. Crestline Management LP owned about 0.38% of Rambus worth $21,679,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RMBS. UMB Bank n.a. boosted its stake in shares of Rambus by 554.9% in the 4th 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. Skandinaviska Enskilda Banken AB publ boosted its position in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after buying an additional 640 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after buying an additional 891 shares during the last quarter. Quarry LP lifted its stake in shares of Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the last quarter. Finally, GeoWealth Management LLC bought a new stake in shares of Rambus in the 4th quarter valued at about $68,000. 88.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were 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 directly owns 93,841 shares of the company's stock, valued at $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 is available through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,300 shares of company stock worth $6,745,221. Company insiders own 1.00% of the company's stock.

Rambus Price Performance

RMBS stock traded down $0.57 during trading on Friday, reaching $51.03. The company had a trading volume of 830,056 shares, compared to its average volume of 1,291,607. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The business has a 50 day moving average of $50.66 and a 200 day moving average of $54.87. The company has a market cap of $5.48 billion, a P/E ratio of 30.74 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RMBS shares. Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Susquehanna raised their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $75.00.

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.