Rambus, Inc. (NASDAQ:RMBS) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 38.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,182 shares of the semiconductor company's stock after purchasing an additional 14,925 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Rambus worth $2,805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RMBS. Sequoia Financial Advisors LLC boosted its position in shares of Rambus by 19.1% during the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after buying an additional 808 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Rambus by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock worth $554,000 after buying an additional 3,711 shares during the period. KBC Group NV boosted its holdings in Rambus by 18.9% in the first quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after purchasing an additional 757 shares during the period. Corient Private Wealth LLC purchased a new position in Rambus in the fourth quarter valued at $269,000. Finally, GAMMA Investing LLC boosted its holdings in Rambus by 45.8% in the first quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after purchasing an additional 1,436 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Price Performance

Shares of RMBS stock traded down $1.08 during trading hours on Friday, reaching $72.85. 789,004 shares of the company's stock were exchanged, compared to its average volume of 1,046,846. The company has a market cap of $7.82 billion, a P/E ratio of 34.33 and a beta of 1.24. The company's 50 day moving average is $62.20 and its two-hundred day moving average is $57.68. Rambus, Inc. has a 1 year low of $37.42 and a 1 year high of $76.07.

Insider Buying and Selling at Rambus

In other news, Director Steven Laub sold 1,847 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the sale, the director owned 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RMBS shares. Rosenblatt Securities lifted their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group lifted their price target on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday. Susquehanna lifted their price target on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday. Finally, Wall Street Zen raised Rambus from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rambus has a consensus rating of "Buy" and a consensus target price of $77.71.

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.