Swiss National Bank Has $10.69 Million Stock Holdings in Rambus, Inc. $RMBS

Key Points

• The Swiss National Bank reduced its holdings in Rambus, Inc. by 2.5% in Q1, totaling 206,400 shares valued at approximately $10.68 million.
• Insider sales of Rambus stock included Director Emiko Higashi selling 1,111 shares and Director Necip Sayiner selling 7,500 shares, resulting in notable decreases in their ownership percentages.
• Rambus has seen various analyst upgrades, with price targets now ranging from $75.00 to $90.00, while one analyst downgraded the stock to a "hold" rating.

Swiss National Bank trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,400 shares of the semiconductor company's stock after selling 5,400 shares during the period. Swiss National Bank owned 0.19% of Rambus worth $10,686,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RMBS. Wells Fargo & Company MN grew its position in Rambus by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company's stock worth $5,177,000 after acquiring an additional 21,552 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Rambus by 86.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company's stock worth $3,908,000 after buying an additional 34,193 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Rambus during the 4th quarter worth $201,000. Barclays PLC boosted its holdings in shares of Rambus by 21.8% during the 4th quarter. Barclays PLC now owns 263,453 shares of the semiconductor company's stock worth $13,927,000 after buying an additional 47,194 shares during the period. Finally, Mariner LLC boosted its holdings in shares of Rambus by 1.4% during the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after buying an additional 167 shares during the period. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 1,075 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total value 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. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of 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 11,533 shares of company stock valued at $820,188 in the last ninety days. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent analyst reports. Susquehanna upped their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities upped their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $77.71.

Rambus Stock Up 1.1%

Rambus stock traded up $0.76 during mid-day trading on Thursday, reaching $70.44. The company had a trading volume of 640,900 shares, compared to its average volume of 1,432,624. Rambus, Inc. has a 52 week low of $37.42 and a 52 week high of $78.16. The company has a 50 day moving average of $67.27 and a 200-day moving average of $58.97. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 33.23 and a beta of 1.28.

Rambus Company 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.