4,496 Shares in Rambus, Inc. $RMBS Bought by Hancock Whitney Corp

Key Points

• Hancock Whitney Corp acquired a new stake in Rambus, Inc., purchasing 4,496 shares valued at approximately $233,000 during the 1st quarter.
• Insider activity showed Director Necip Sayiner sold 7,500 shares for roughly $551,475, while Director Meera Rao sold 3,000 shares for about $215,160, indicating a decrease in their positions.
• Rambus stock is currently rated with a consensus of "Buy" by analysts, with target prices reaching up to $91.00 following recent upgrades.

Hancock Whitney Corp acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,496 shares of the semiconductor company's stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Rambus by 60.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after buying an additional 3,297,728 shares during the last quarter. American Century Companies Inc. lifted its stake in Rambus by 21.1% during the 1st quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company's stock worth $73,747,000 after acquiring an additional 248,013 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rambus by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock worth $65,047,000 after acquiring an additional 6,600 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Rambus by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock worth $63,798,000 after purchasing an additional 104,356 shares during the period. Finally, Congress Asset Management Co. increased its holdings in Rambus by 38.5% during the 1st quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock worth $62,107,000 after purchasing an additional 333,538 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Rosenblatt Securities upped their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Thursday, August 28th. Susquehanna increased their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Jefferies Financial Group increased their price objective on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $79.38.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 1,075 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares of the company's stock, valued at $4,843,514. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares of the company's stock, valued at $2,639,459.12. This represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,186 shares of company stock valued at $1,575,766. 1.00% of the stock is owned by company insiders.

Rambus Stock Performance

Rambus stock traded down $2.55 during mid-day trading on Friday, reaching $86.03. 2,245,628 shares of the company were exchanged, compared to its average volume of 1,394,158. Rambus, Inc. has a twelve month low of $38.01 and a twelve month high of $89.98. The firm's 50-day simple moving average is $71.82 and its two-hundred day simple moving average is $60.31. The firm has a market cap of $9.26 billion, a PE ratio of 40.58 and a beta of 1.38.

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.