Schwartz Investment Counsel Inc. Takes $19.69 Million Position in Rambus, Inc. (NASDAQ:RMBS)

Schwartz Investment Counsel Inc. purchased a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 380,337 shares of the semiconductor company's stock, valued at approximately $19,690,000. Schwartz Investment Counsel Inc. owned about 0.35% of Rambus as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Rambus by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after acquiring an additional 31,645 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Rambus by 442.8% in the 4th 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 acquiring an additional 4,445,146 shares during the last quarter. Invesco Ltd. raised its position in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. JPMorgan Chase & Co. raised its position in Rambus by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after purchasing an additional 68,975 shares during the last quarter. Finally, Norges Bank bought a new position in Rambus during the 4th quarter worth $94,368,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 2.4%

Shares of Rambus stock opened at $64.00 on Friday. The business has a 50-day moving average price of $54.80 and a two-hundred day moving average price of $55.84. Rambus, Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The company has a market cap of $6.87 billion, a P/E ratio of 33.33 and a beta of 1.20.

Analyst Ratings Changes

Several research analysts recently issued reports on RMBS shares. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. One equities research 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. According to MarketBeat, Rambus presently has a consensus rating of "Buy" and a consensus price target of $75.00.

Insiders Place Their Bets

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the completion of the sale, the chief executive officer now directly owns 336,844 shares in the company, valued at approximately $15,767,667.64. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Laub sold 1,847 shares of the 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 now owns 9,057 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders sold 41,848 shares of company stock worth $2,057,733. Company insiders own 1.00% of the company's stock.

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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