Alberta Investment Management Corp Has $3.16 Million Stock Position in Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Alberta Investment Management Corp increased its stake in Rambus, Inc. by 29.3%, owning 60,968 shares valued at approximately $3.16 million by the end of the first quarter.
• Multiple institutional investors significantly boosted their positions in Rambus during the fourth quarter, with the largest being Price T Rowe Associates, which raised its stake by 442.8%.
• Analyst ratings for Rambus have positive momentum, with eight analysts rating the stock as a "buy" and a new consensus price target of $77.71.

Alberta Investment Management Corp raised its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 29.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,968 shares of the semiconductor company's stock after buying an additional 13,828 shares during the period. Alberta Investment Management Corp owned 0.06% of Rambus worth $3,157,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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 valued at $288,042,000 after acquiring an additional 4,445,146 shares during the last quarter. Invesco Ltd. raised its stake in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Rambus during the fourth quarter valued at $51,500,000. Analog Century Management LP bought a new position in shares of Rambus during the fourth quarter valued at $43,625,000. Finally, Oberweis Asset Management Inc. bought a new position in shares of Rambus during the fourth quarter valued at $21,641,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insiders Place Their Bets

In other Rambus news, Director Steven Laub sold 1,847 shares of Rambus stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director directly owned 9,057 shares of the company's stock, valued at approximately $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

Rambus Trading Down 2.1%

RMBS opened at $72.41 on Friday. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $76.07. The company has a market cap of $7.79 billion, a P/E ratio of 34.16 and a beta of 1.28. The company has a fifty day moving average price of $62.58 and a two-hundred day moving average price of $57.78.

Analyst Ratings Changes

A number of brokerages recently weighed in on RMBS. Wall Street Zen downgraded shares of Rambus from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group lifted their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Susquehanna lifted their target price on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities lifted their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $77.71.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.