Raymond James Financial Inc. Invests $51.50 Million in Rambus Inc. (NASDAQ:RMBS)

Raymond James Financial Inc. purchased a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 974,284 shares of the semiconductor company's stock, valued at approximately $51,500,000. Raymond James Financial Inc. owned approximately 0.91% of Rambus at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. Norges Bank acquired a new stake in Rambus during the 4th quarter worth $94,368,000. Congress Asset Management Co. purchased a new stake in Rambus in the fourth quarter valued at $45,778,000. SG Americas Securities LLC boosted its stake in Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after acquiring an additional 520,754 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Rambus during the fourth quarter worth about $8,513,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Down 0.4 %

Shares of RMBS traded down $0.20 on Friday, hitting $45.72. 739,112 shares of the stock traded hands, compared to its average volume of 1,305,734. The firm has a market capitalization of $4.91 billion, a P/E ratio of 27.54 and a beta of 1.20. The stock's 50 day moving average is $53.99 and its two-hundred day moving average is $54.31. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the company'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 completion of the sale, the director now directly owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,952 shares of company stock worth $6,447,055. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RMBS shares. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a report on Friday. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Finally, Susquehanna increased their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus price target of $76.71.

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.