Ameriprise Financial Inc. Raises Stock Position in Rambus Inc. (NASDAQ:RMBS)

Ameriprise Financial Inc. lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,130 shares of the semiconductor company’s stock after acquiring an additional 20,682 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.23% of Rambus worth $13,169,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after acquiring an additional 520,754 shares during the period. Atria Investments Inc purchased a new position in shares of Rambus during the fourth quarter worth approximately $336,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock worth $682,000 after acquiring an additional 2,853 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock worth $66,062,000 after acquiring an additional 5,761 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in Rambus during the fourth quarter valued at approximately $269,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock worth $6,745,221 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Down 0.7%

Shares of RMBS opened at $56.35 on Friday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 33.95 and a beta of 1.24. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The company has a 50 day moving average of $50.99 and a two-hundred day moving average of $55.31.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RMBS shares. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Evercore ISI started coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Sunday, May 4th. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Finally, Susquehanna lifted their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $75.00.

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.