Charles Schwab Investment Management Inc. Increases Stock Position in Rambus, Inc. (NASDAQ:RMBS)

Charles Schwab Investment Management Inc. grew its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,256,346 shares of the semiconductor company’s stock after purchasing an additional 6,600 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.17% of Rambus worth $65,047,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RMBS. Wells Fargo & Company MN boosted its position in shares of Rambus by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company’s stock valued at $5,177,000 after acquiring an additional 21,552 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Rambus by 86.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company’s stock worth $3,908,000 after purchasing an additional 34,193 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Rambus during the fourth quarter valued at $201,000. Barclays PLC lifted its position in Rambus by 21.8% during the fourth quarter. Barclays PLC now owns 263,453 shares of the semiconductor company’s stock valued at $13,927,000 after purchasing an additional 47,194 shares during the last quarter. Finally, Mariner LLC grew its stake in shares of Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock worth $659,000 after buying an additional 167 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Susquehanna increased their price target on Rambus from $70.00 to $75.00 and gave the company a “positive” rating in a report on Tuesday, July 29th. Jefferies Financial Group increased their target price 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. Rosenblatt Securities lifted their price target on shares of Rambus from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus has a consensus rating of “Buy” and a consensus target price of $77.71.

Rambus Price Performance

NASDAQ:RMBS opened at $76.00 on Friday. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 35.85 and a beta of 1.28. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $78.16. The company’s 50-day moving average is $66.03 and its two-hundred day moving average is $58.57.

Insider Activity

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

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.