Rambus, Inc. (NASDAQ:RMBS) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management lifted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 63.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,144 shares of the semiconductor company's stock after acquiring an additional 15,940 shares during the quarter. Meritage Portfolio Management's holdings in Rambus were worth $2,130,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research analyst reports. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reissued a "buy" rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $75.00.

Insider Transactions at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 326,844 shares in the company, valued at approximately $15,619,874.76. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 10,904 shares of the company's stock, valued at approximately $605,826.24. This trade represents a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,848 shares of company stock valued at $1,548,933. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Up 1.6%

Shares of NASDAQ RMBS opened at $66.06 on Friday. The company's 50-day moving average price is $56.34 and its 200 day moving average price is $56.01. Rambus, Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 34.41 and a beta of 1.24.

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.

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