Vident Advisory LLC Buys 7,686 Shares of Rambus Inc. (NASDAQ:RMBS)

Vident Advisory LLC raised its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,714 shares of the semiconductor company's stock after acquiring an additional 7,686 shares during the period. Vident Advisory LLC owned about 0.07% of Rambus worth $3,897,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after purchasing an additional 520,754 shares during the period. Atria Investments Inc bought a new position in shares of Rambus in the 4th quarter worth $336,000. Hennion & Walsh Asset Management Inc. boosted its stake in Rambus by 28.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock valued at $682,000 after purchasing an additional 2,853 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after purchasing an additional 5,761 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Rambus in the fourth quarter valued at approximately $269,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

RMBS traded down $1.04 during trading on Monday, reaching $53.48. The stock had a trading volume of 772,058 shares, compared to its average volume of 1,287,761. The business has a 50-day moving average of $51.11 and a 200-day moving average of $55.45. The stock has a market cap of $5.74 billion, a PE ratio of 32.22 and a beta of 1.24. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at approximately $17,998,433.84. The trade was a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Laub sold 3,653 shares of the firm's 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 transaction, the director now 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 disclosure for this sale can be found here. Insiders sold 60,001 shares of company stock valued at $3,080,226 in the last quarter. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price for the company. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Rosenblatt Securities reissued a "buy" rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upped their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $75.00.

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.