Rambus Inc. (NASDAQ:RMBS) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 138.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,153 shares of the semiconductor company's stock after purchasing an additional 93,566 shares during the quarter. Point72 Asset Management L.P. owned 0.15% of Rambus worth $8,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 891 shares during the period. Quarry LP lifted its position in shares of Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the period. Finally, GeoWealth Management LLC acquired a new stake in shares of Rambus during the 4th quarter valued at approximately $68,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Down 1.9%

Shares of Rambus stock traded down $1.04 during trading on Friday, hitting $53.48. 772,058 shares of the company were exchanged, compared to its average volume of 1,287,761. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 32.22 and a beta of 1.24. The firm has a 50 day moving average price of $51.11 and a 200 day moving average price of $55.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $75.00.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the transaction, the chief executive officer now directly owns 306,931 shares in the company, valued at approximately $17,998,433.84. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director now owns 10,904 shares of the company's stock, valued at $605,826.24. This trade represents a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,001 shares of company stock worth $3,080,226 in the last ninety days. 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.