PNC Financial Services Group Inc. Has $785,000 Holdings in Rambus, Inc. (NASDAQ:RMBS)

PNC Financial Services Group Inc. lessened its holdings in Rambus, Inc. (NASDAQ:RMBS) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,169 shares of the semiconductor company’s stock after selling 1,115 shares during the period. PNC Financial Services Group Inc.’s holdings in Rambus were worth $785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMBS. Banque Cantonale Vaudoise acquired a new stake in shares of Rambus in the 1st quarter worth about $25,000. Tsfg LLC acquired a new stake in shares of Rambus in the 1st quarter worth about $26,000. Orion Capital Management LLC acquired a new stake in shares of Rambus in the 4th quarter worth about $37,000. Larson Financial Group LLC increased its stake in Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 794 shares during the last quarter. Finally, Quarry LP increased its stake in Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on RMBS shares. Rosenblatt Securities increased their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Rambus from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group increased their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Susquehanna raised their price target on shares of Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Buy” and a consensus target price of $77.71.

Rambus Trading Down 0.1%

RMBS opened at $72.77 on Tuesday. The company has a 50 day moving average of $64.85 and a 200 day moving average of $58.19. The company has a market cap of $7.83 billion, a PE ratio of 34.33 and a beta of 1.28. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $76.20.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 7,500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Emiko Higashi sold 1,111 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director owned 63,371 shares of the company’s stock, valued at $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,111 shares of company stock valued at $939,567. Company insiders own 1.00% of the company’s stock.

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.