Ameriprise Financial Inc. Has $13.17 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

Ameriprise Financial Inc. boosted its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 249,130 shares of the semiconductor company's stock after buying an additional 20,682 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.23% of Rambus worth $13,169,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RMBS. Lindbrook Capital LLC raised its position in shares of Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 166 shares during the last quarter. Mariner LLC boosted its stake in Rambus by 1.4% in the fourth 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. Hillsdale Investment Management Inc. grew its holdings in Rambus by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock worth $2,400,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System raised its position in shares of Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock valued at $1,651,000 after acquiring an additional 202 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock valued at $472,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on RMBS. StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a research note on Monday. Susquehanna boosted their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $75.00.

Insider Activity

In related news, Director Steven Laub sold 3,653 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the transaction, the director now directly owns 10,904 shares in the company, valued at approximately $605,826.24. This trade represents a 25.09% 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, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the sale, the chief executive officer now owns 319,241 shares in the company, valued at $14,994,749.77. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,001 shares of company stock worth $3,080,226 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 1.8%

Shares of NASDAQ:RMBS traded down $1.02 during trading on Wednesday, hitting $54.63. 1,153,216 shares of the company's stock traded hands, compared to its average volume of 1,291,939. The company has a 50-day moving average price of $51.13 and a 200-day moving average price of $55.42. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 32.91 and a beta of 1.24.

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.