Choreo LLC Buys 1,094 Shares of Rambus Inc. (NASDAQ:RMBS)

Choreo LLC raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,837 shares of the semiconductor company’s stock after purchasing an additional 1,094 shares during the period. Choreo LLC’s holdings in Rambus were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMBS. UMB Bank n.a. lifted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 455 shares in the last quarter. Quarry LP raised its stake in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares during the period. GAMMA Investing LLC lifted its holdings in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after purchasing an additional 1,769 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 2,920 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,582 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS opened at $67.17 on Tuesday. The stock has a market capitalization of $7.16 billion, a PE ratio of 40.46 and a beta of 1.26. The company’s fifty day moving average is $58.44 and its 200 day moving average is $50.31. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $69.15.

Insiders Place Their Bets

In other news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

RMBS has been the topic of a number of analyst reports. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird initiated coverage on shares of Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective for the company. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 target price for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $77.29.

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.