Price T Rowe Associates Inc. MD Acquires 3,297,728 Shares of Rambus, Inc. $RMBS

Key Points

• Price T Rowe Associates Inc. increased its stake in Rambus, Inc. by 60.5%, acquiring an additional 3,297,728 shares and now owns a total of 8,746,856 shares worth $452,870,000.
• Rambus stock has received mixed analyst ratings, with Wall Street Zen downgrading it from "buy" to "hold," while other firms like Jefferies Financial Group raised their price target significantly to $75.00.
• Over 88.54% of Rambus' stock is owned by institutional investors and hedge funds, reflecting strong confidence in the company’s future performance.

Price T Rowe Associates Inc. MD lifted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 60.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,746,856 shares of the semiconductor company's stock after acquiring an additional 3,297,728 shares during the period. Price T Rowe Associates Inc. MD owned approximately 8.14% of Rambus worth $452,870,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Rambus during the 1st quarter worth approximately $25,000. Tsfg LLC bought a new stake in shares of Rambus during the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Rambus during the 4th quarter worth approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in shares of Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock worth $50,000 after acquiring an additional 968 shares during the period. Institutional investors own 88.54% of the company's stock.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction on 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 transaction, the director owned 38,324 shares of the company's stock, valued at $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 1,111 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director directly owned 63,371 shares in the company, valued at approximately $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,686 shares of company stock valued at $718,381 in the last three months. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

RMBS has been the subject of a number of research analyst reports. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Thursday. Susquehanna upped their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities upped their price target on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $79.38.

Rambus Price Performance

NASDAQ RMBS traded up $5.33 during mid-day trading on Thursday, reaching $80.38. 791,494 shares of the stock were exchanged, compared to its average volume of 1,053,568. Rambus, Inc. has a one year low of $37.42 and a one year high of $79.76. The stock has a 50 day simple moving average of $68.43 and a 200-day simple moving average of $59.18. The stock has a market cap of $8.65 billion, a P/E ratio of 37.80 and a beta of 1.28.

Rambus Company 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.