ProShare Advisors LLC Acquires 9,546 Shares of Rambus Inc. (NASDAQ:RMBS)

ProShare Advisors LLC lifted its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,027 shares of the semiconductor company's stock after buying an additional 9,546 shares during the period. ProShare Advisors LLC's holdings in Rambus were worth $2,592,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after acquiring an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Rambus by 442.8% in the 4th 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 purchasing an additional 4,445,146 shares during the period. Invesco Ltd. increased its stake in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Rambus by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after buying an additional 68,975 shares during the period. Finally, Norges Bank bought a new position in Rambus in the fourth quarter valued at approximately $94,368,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Steven Laub sold 3,653 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now owns 10,904 shares of the company's stock, valued at approximately $605,826.24. This represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were 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. This represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,001 shares of company stock valued at $3,080,226 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 1.9%

Shares of Rambus stock traded down $1.04 on Monday, reaching $53.48. 772,058 shares of the company were exchanged, compared to its average volume of 1,287,761. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 32.22 and a beta of 1.24. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a 50-day moving average of $51.11 and a 200 day moving average of $55.45.

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.