Principal Financial Group Inc. Has $26.24 Million Stake in Rambus, Inc. (NASDAQ:RMBS)

Principal Financial Group Inc. raised its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 53.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 506,713 shares of the semiconductor company's stock after buying an additional 176,579 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Rambus worth $26,235,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RMBS. Tsfg LLC acquired a new position in shares of Rambus in the first quarter worth about $26,000. Orion Capital Management LLC acquired a new stake in shares of Rambus during the fourth quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 640 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 891 shares during the period. Finally, Quarry LP boosted its holdings in shares of Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the transaction, the chief executive officer owned 319,241 shares of the company's stock, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Laub sold 1,847 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, the director owned 9,057 shares in the company, valued at approximately $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,848 shares of company stock valued at $1,080,833 in the last ninety days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Price Performance

Shares of RMBS traded down $0.39 during mid-day trading on Wednesday, hitting $64.79. 533,412 shares of the company's stock were exchanged, compared to its average volume of 1,245,595. The company has a market cap of $6.96 billion, a PE ratio of 33.74 and a beta of 1.24. Rambus, Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The company has a 50-day simple moving average of $57.53 and a 200 day simple moving average of $56.28.

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.