Rambus Inc. (NASDAQ:RMBS) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,199,564 shares of the semiconductor company's stock after acquiring an additional 333,538 shares during the quarter. Congress Asset Management Co. owned about 1.12% of Rambus worth $62,107,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of RMBS. Orion Capital Management LLC acquired a new stake in Rambus in the fourth quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in Rambus by 927.5% in 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 last quarter. Farther Finance Advisors LLC lifted its holdings in Rambus by 379.1% in 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 last quarter. Quarry LP lifted its holdings in Rambus by 26.9% in 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 last quarter. Finally, GeoWealth Management LLC acquired a new stake in Rambus in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $57.43 on Friday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 34.60 and a beta of 1.20. The business has a 50 day simple moving average of $50.91 and a 200 day simple moving average of $55.49. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the transaction, the director now owns 9,057 shares of the company's stock, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,848 shares of company stock valued at $3,182,033 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Rosenblatt Securities reiterated a "buy" rating and issued a $80.00 target price on shares of Rambus in a report 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $75.00.

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.

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