Deutsche Bank AG Raises Stake in Rambus, Inc. $RMBS

Key Points

• Deutsche Bank AG has increased its holdings in Rambus, Inc. by 38.7% during the first quarter, owning approximately 0.18% of the company valued at nearly $10 million.
• Several research analysts have raised their price targets on Rambus shares, with Jefferies Financial Group increasing its target from $69.00 to $75.00, while Rosenblatt Securities lifted it from $80.00 to $90.00.
• Despite recent institutional investment activity, Rambus stock has decreased by 2.4%, currently trading at around $74.21.

Deutsche Bank AG grew its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,826 shares of the semiconductor company's stock after acquiring an additional 53,824 shares during the period. Deutsche Bank AG owned about 0.18% of Rambus worth $9,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Rambus by 19.1% in the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after acquiring an additional 808 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Rambus in the first quarter valued at about $235,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Rambus by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after purchasing an additional 3,711 shares during the period. KBC Group NV lifted its stake in shares of Rambus by 18.9% in the first quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after purchasing an additional 757 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Rambus by 45.8% in the first quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after purchasing an additional 1,436 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on RMBS shares. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Jefferies Financial Group raised their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Susquehanna raised their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities raised their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of "Buy" and an average price target of $77.71.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the sale, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the sale, the director owned 62,296 shares of the company's stock, valued at approximately $4,843,514. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,533 shares of company stock worth $820,188 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Rambus Price Performance

RMBS traded down $0.10 during midday trading on Wednesday, reaching $69.68. 1,548,604 shares of the company's stock were exchanged, compared to its average volume of 1,409,544. The stock has a market capitalization of $7.50 billion, a PE ratio of 32.87 and a beta of 1.28. The business's 50-day moving average price is $67.07 and its 200 day moving average price is $58.90. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $78.16.

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.