Rambus Inc. (NASDAQ:RMBS) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 112.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,169 shares of the semiconductor company's stock after acquiring an additional 36,582 shares during the period. Lazard Asset Management LLC owned about 0.06% of Rambus worth $3,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after buying an additional 31,645 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after acquiring an additional 4,445,146 shares during the period. Invesco Ltd. increased its stake in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after acquiring an additional 2,093,953 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after acquiring an additional 68,975 shares during the period. Finally, Norges Bank acquired a new position in shares of Rambus during the fourth quarter worth about $94,368,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMBS has been the topic of a number of recent analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. Finally, Susquehanna upped their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rambus presently has an average rating of "Buy" and an average target price of $75.00.

Insider Buying and Selling

In related news, Director Steven Laub sold 3,653 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total transaction 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. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares of the company's stock, valued at approximately $2,803,080. The trade was a 9.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,953 shares of company stock worth $6,948,181. 1.00% of the stock is owned by insiders.

Rambus Trading Down 0.3%

Shares of RMBS stock traded down $0.16 during trading hours on Tuesday, hitting $55.65. The company's stock had a trading volume of 564,161 shares, compared to its average volume of 1,291,780. The business has a fifty day moving average of $51.05 and a 200-day moving average of $55.42. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 33.52 and a beta of 1.24. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

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.