Rambus, Inc. $RMBS Stock Holdings Lessened by Royal Bank of Canada

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 reduced its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,722 shares of the semiconductor company's stock after selling 42,154 shares during the period. Royal Bank of Canada owned about 0.19% of Rambus worth $10,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its stake in Rambus by 2.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after purchasing an additional 179 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Rambus by 3.3% in the 1st quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company's stock valued at $380,000 after buying an additional 234 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Rambus by 4.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after buying an additional 266 shares during the last quarter. Xponance Inc. raised its stake in Rambus by 1.8% during the first quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock worth $803,000 after acquiring an additional 280 shares during the period. Finally, Fifth Third Bancorp raised its stake in Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock worth $73,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Price Performance

Shares of Rambus stock traded up $0.47 on Wednesday, hitting $97.52. The company had a trading volume of 2,423,822 shares, compared to its average volume of 1,763,994. Rambus, Inc. has a 52 week low of $38.01 and a 52 week high of $100.73. The company has a market cap of $10.49 billion, a PE ratio of 46.00 and a beta of 1.38. The business has a 50-day simple moving average of $73.74 and a 200-day simple moving average of $61.13.

Insider Transactions at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares in the company, valued at approximately $5,908,231. The trade was a 12.34% 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 this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,260 shares of company stock worth $2,407,852 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of research reports. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Thursday, August 28th. Rosenblatt Securities increased their target price on Rambus from $90.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Robert W. Baird lifted their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Susquehanna boosted their target price on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $93.50.

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.