Rambus Inc. (NASDAQ:RMBS) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,463,338 shares of the semiconductor company's stock after buying an additional 170,884 shares during the quarter. Northern Trust Corp owned approximately 1.37% of Rambus worth $77,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Rambus by 442.8% during 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 in the last quarter. Invesco Ltd. lifted its stake in shares of 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. Norges Bank bought a new stake in Rambus during the fourth quarter valued at about $94,368,000. Raymond James Financial Inc. purchased a new position in Rambus in the fourth quarter valued at about $51,500,000. Finally, Congress Asset Management Co. bought a new position in Rambus in the fourth quarter worth about $45,778,000. 88.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total transaction of $468,100.00. Following the completion of the transaction, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at $15,767,667.64. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,300 shares of company stock worth $6,745,221. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RMBS shares. Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a research report on Sunday, May 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Rambus in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company boosted their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Down 1.1 %

Shares of RMBS traded down $0.57 during mid-day trading on Friday, reaching $51.03. The company had a trading volume of 830,056 shares, compared to its average volume of 1,290,598. The stock has a market capitalization of $5.48 billion, a P/E ratio of 30.74 and a beta of 1.24. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The stock has a 50 day moving average of $50.70 and a two-hundred day moving average of $54.80.

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.