Thornburg Investment Management Inc. Boosts Stake in Rambus Inc. (NASDAQ:RMBS)

Thornburg Investment Management Inc. lifted its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 27.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,084 shares of the semiconductor company's stock after purchasing an additional 19,036 shares during the period. Thornburg Investment Management Inc. owned about 0.08% of Rambus worth $4,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RMBS. UMB Bank n.a. grew its holdings in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after buying an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after buying an additional 640 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after buying an additional 891 shares during the last quarter. Quarry LP grew its holdings in shares of Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after buying an additional 247 shares during the last quarter. Finally, GeoWealth Management LLC purchased a new position in shares of Rambus during the fourth quarter worth about $68,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity

In other Rambus news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the sale, the director now directly owns 10,904 shares of the company's stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the transaction, the chief executive officer now owns 306,931 shares of the company's stock, valued at $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,001 shares of company stock valued at $3,080,226 over the last 90 days. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RMBS shares. StockNews.com lowered Rambus from a "buy" rating to a "hold" rating in a report on Monday. Rosenblatt Securities reissued a "buy" rating and set a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rambus has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Trading Down 1.8%

Shares of Rambus stock traded down $1.02 during mid-day trading on Wednesday, hitting $54.63. 1,153,216 shares of the stock were exchanged, compared to its average volume of 1,294,626. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 32.91 and a beta of 1.24. The company has a 50-day simple moving average of $51.13 and a 200 day simple moving average of $55.42.

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.