Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 40.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,002 shares of the semiconductor company's stock after purchasing an additional 39,798 shares during the quarter. Deutsche Bank AG owned about 0.13% of Rambus worth $7,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 4,445,146 shares during the last quarter. Invesco Ltd. grew its stake in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. Norges Bank acquired a new position in shares of Rambus in the fourth quarter valued at about $94,368,000. Raymond James Financial Inc. acquired a new position in shares of Rambus in the fourth quarter valued at about $51,500,000. Finally, Congress Asset Management Co. purchased a new position in shares of Rambus in the fourth quarter worth about $45,778,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMBS. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday. Finally, Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Rambus currently has a consensus rating of "Buy" and an average price target of $75.00.

Rambus Price Performance

NASDAQ RMBS traded down $1.02 on Wednesday, hitting $54.63. The company had a trading volume of 1,153,216 shares, compared to its average volume of 1,291,939. The company's fifty day moving average price is $51.13 and its 200-day moving average price is $55.42. The company has a market capitalization of $5.87 billion, a PE ratio of 32.91 and a beta of 1.24. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Insider Transactions at Rambus

In other news, Director Steven Laub sold 3,653 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now owns 10,904 shares of the company's stock, valued at $605,826.24. This represents a 25.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 6,348 shares of Rambus stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer now owns 319,241 shares of the company's stock, valued at approximately $14,994,749.77. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,001 shares of company stock valued at $3,080,226 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

About Rambus

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.