Principal Financial Group Inc. Increases Holdings in Rambus, Inc. (NASDAQ:RMBS)

Principal Financial Group Inc. grew its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 53.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 506,713 shares of the semiconductor company's stock after purchasing an additional 176,579 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Rambus worth $26,235,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. US Bancorp DE raised its stake in Rambus by 24.9% during the fourth quarter. US Bancorp DE now owns 11,686 shares of the semiconductor company's stock worth $618,000 after purchasing an additional 2,327 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after purchasing an additional 5,761 shares during the period. Atria Investments Inc purchased a new position in Rambus during the fourth quarter worth about $336,000. M&T Bank Corp purchased a new position in Rambus during the fourth quarter worth about $233,000. Finally, Proficio Capital Partners LLC purchased a new position in Rambus during the fourth quarter worth about $978,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Down 0.3%

Shares of RMBS traded down $0.19 during trading on Thursday, reaching $64.60. 580,165 shares of the company traded hands, compared to its average volume of 1,244,236. Rambus, Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market cap of $6.94 billion, a PE ratio of 33.65 and a beta of 1.24. The stock has a 50-day simple moving average of $57.85 and a 200-day simple moving average of $56.34.

Insider Buying and Selling

In related news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction that occurred 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 owned 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total transaction of $477,900.00. Following the transaction, the chief executive officer owned 326,844 shares of the company's stock, valued at $15,619,874.76. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,848 shares of company stock valued at $1,080,833 in the last 90 days. Company insiders own 1.00% of the company's stock.

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.