Rambus Inc. (NASDAQ:RMBS) Shares Bought by Swiss National Bank

Swiss National Bank increased its stake in Rambus Inc. (NASDAQ:RMBS) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,800 shares of the semiconductor company’s stock after purchasing an additional 1,300 shares during the period. Swiss National Bank’s holdings in Rambus were worth $11,196,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Lindbrook Capital LLC raised its position in Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after buying an additional 166 shares during the last quarter. Arizona State Retirement System raised its position in Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after buying an additional 202 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in Rambus by 2.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after buying an additional 246 shares during the last quarter. Quarry LP raised its position 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 buying an additional 264 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Rambus by 7.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company’s stock worth $252,000 after buying an additional 317 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Down 0.2 %

Shares of RMBS opened at $56.82 on Friday. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The firm’s fifty day moving average is $59.55 and its two-hundred day moving average is $52.65. The stock has a market cap of $6.11 billion, a PE ratio of 34.23 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Rosenblatt Securities lifted their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.71.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 4,625 shares of Rambus 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 owns 42,000 shares of the company’s stock, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, 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. Insiders have sold a total of 66,952 shares of company stock valued at $4,405,855 in the last 90 days. 1.00% of the stock is owned by insiders.

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.