Royal Bank of Canada Reduces Stock Holdings in Rambus, Inc. $RMBS

Key Points

• Royal Bank of Canada has reduced its stake in Rambus, Inc. by 17.3%, selling 42,154 shares and now holding approximately 0.19% of the company's shares, valued at $10.4 million.
• Institutional investors have increased their holdings in Rambus, with Price T Rowe Associates boosting its stake by 60.5%, now owning nearly 8.75 million shares worth approximately $452.9 million.
• Analysts have a largely positive outlook on Rambus, with a target price increase from $80 to $90 from Rosenblatt Securities, and an average target price of $79.38, suggesting a consensus Buy rating.

Royal Bank of Canada decreased its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 201,722 shares of the semiconductor company's stock after selling 42,154 shares during the quarter. Royal Bank of Canada owned about 0.19% of Rambus worth $10,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after purchasing an additional 3,297,728 shares during the period. American Century Companies Inc. boosted its holdings in shares of Rambus by 21.1% in the 1st quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company's stock worth $73,747,000 after purchasing an additional 248,013 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Rambus by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock worth $65,047,000 after acquiring an additional 6,600 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Rambus by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock worth $63,798,000 after acquiring an additional 104,356 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Rambus by 38.5% during the 1st quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock worth $62,107,000 after acquiring an additional 333,538 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Arete Research raised Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Susquehanna raised their price target on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Rosenblatt Securities upped their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group upped their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $79.38.

Rambus Stock Up 14.9%

Shares of NASDAQ RMBS opened at $88.58 on Friday. The business has a fifty day simple moving average of $71.42 and a two-hundred day simple moving average of $60.10. The firm has a market cap of $9.53 billion, a PE ratio of 41.78 and a beta of 1.38. Rambus, Inc. has a twelve month low of $38.01 and a twelve month high of $89.98.

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares of the company's stock, valued at $4,843,514. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,686 shares of company stock valued at $933,541 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

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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