M&T Bank Corp Increases Stock Position in Rambus, Inc. (NASDAQ:RMBS)

M&T Bank Corp increased its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,878 shares of the semiconductor company’s stock after purchasing an additional 466 shares during the quarter. M&T Bank Corp’s holdings in Rambus were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RMBS. Tsfg LLC bought a new stake in shares of Rambus during the 1st quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Rambus during the fourth quarter worth about $37,000. Farther Finance Advisors LLC raised its position in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 891 shares during the period. Quarry LP boosted its stake in Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 247 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Rambus by 129.6% in the first quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 696 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

Shares of Rambus stock opened at $68.21 on Friday. Rambus, Inc. has a 1 year low of $37.43 and a 1 year high of $69.43. The firm has a market cap of $7.33 billion, a PE ratio of 35.53 and a beta of 1.24. The company has a 50 day simple moving average of $59.61 and a two-hundred day simple moving average of $56.80.

Insider Activity

In other Rambus news, Director Steven Laub sold 1,847 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director directly owned 9,057 shares of the company’s stock, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Luc Seraphin sold 6,348 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer owned 319,241 shares of the company’s stock, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,848 shares of company stock valued at $602,933. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen raised shares of Rambus from a “buy” rating to a “strong-buy” rating in a report on Friday. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $75.00.

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.