American Century Companies Inc. Grows Stock Holdings in Rambus, Inc. $RMBS

Key Points

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American Century Companies Inc. grew its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,424,365 shares of the semiconductor company's stock after acquiring an additional 248,013 shares during the period. American Century Companies Inc. owned about 1.33% of Rambus worth $73,747,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mariner LLC boosted its holdings in shares of Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock valued at $659,000 after acquiring an additional 167 shares during the last quarter. Quarry LP boosted its holdings 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. Oppenheimer Asset Management Inc. boosted its holdings in shares of Rambus by 4.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after acquiring an additional 266 shares during the last quarter. Xponance Inc. lifted its stake in shares of Rambus by 1.8% in the 1st quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock valued at $803,000 after purchasing an additional 280 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock worth $73,000 after buying an additional 282 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of recent analyst reports. Susquehanna increased their price target on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Jefferies Financial Group increased their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Rosenblatt Securities increased their price target on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $77.71.

Rambus Stock Performance

NASDAQ:RMBS opened at $75.77 on Tuesday. The company has a fifty day moving average of $66.70 and a two-hundred day moving average of $58.74. The stock has a market capitalization of $8.15 billion, a PE ratio of 35.74 and a beta of 1.28. Rambus, Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $78.16.

Insiders Place Their Bets

In other Rambus news, Director Steven Laub sold 1,847 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director directly owned 9,057 shares in the company, valued at approximately $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,533 shares of company stock worth $820,188. Company insiders own 1.00% of the company's stock.

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.

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