Park Avenue Securities LLC Invests $1.11 Million in Rambus Inc. (NASDAQ:RMBS)

Park Avenue Securities LLC acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,340 shares of the semiconductor company's stock, valued at approximately $1,105,000.

Several other institutional investors have also bought and sold shares of RMBS. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rambus by 442.8% in 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 period. Invesco Ltd. lifted its holdings in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. Norges Bank acquired a new stake in Rambus in the 4th quarter valued at about $94,368,000. Raymond James Financial Inc. bought a new position in shares of Rambus during the 4th quarter valued at about $51,500,000. Finally, Congress Asset Management Co. acquired a new position in shares of Rambus in the 4th quarter worth approximately $45,778,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity at Rambus

In other news, Director Steven Laub sold 3,653 shares of the firm's 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 sale, the director now directly owns 10,904 shares of the company's stock, valued at $605,826.24. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the sale, the chief executive officer now owns 306,931 shares of the company's stock, valued at $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,848 shares of company stock valued at $3,182,033. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RMBS. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Performance

Shares of RMBS stock traded down $2.56 on Friday, reaching $58.10. 892,400 shares of the company's stock traded hands, compared to its average volume of 1,265,733. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The company has a market capitalization of $6.24 billion, a P/E ratio of 35.00 and a beta of 1.20. The business's 50 day moving average price is $52.09 and its two-hundred day moving average price is $55.67.

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.