US Bancorp DE Grows Holdings in Rambus, Inc. $RMBS

US Bancorp DE increased its position in Rambus, Inc. (NASDAQ:RMBS) by 55.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,482 shares of the semiconductor company’s stock after acquiring an additional 4,821 shares during the quarter. US Bancorp DE’s holdings in Rambus were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD increased its holdings in Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after acquiring an additional 3,297,728 shares in the last quarter. EdgePoint Investment Group Inc. purchased a new stake in Rambus in the 1st quarter worth approximately $60,535,000. Nuveen LLC purchased a new stake in Rambus during the 1st quarter valued at approximately $57,084,000. Assenagon Asset Management S.A. grew its holdings in Rambus by 392.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock valued at $56,438,000 after buying an additional 702,704 shares in the last quarter. Finally, Park West Asset Management LLC purchased a new stake in Rambus during the 1st quarter valued at approximately $30,503,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMBS has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Rosenblatt Securities increased their price objective on shares of Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Arete raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Thursday, August 28th. Evercore ISI increased their price objective on shares of Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Finally, Susquehanna set a $100.00 price objective on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $96.63.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 approximately $2,817,963.72. This represents a 16.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emiko Higashi sold 1,111 shares of the firm’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 completion of the sale, the director owned 63,371 shares of the company’s stock, valued at approximately $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,913 shares of company stock valued at $2,474,452 over the last quarter. 1.00% of the stock is owned by insiders.

Rambus Stock Performance

NASDAQ RMBS opened at $96.26 on Friday. The company has a market capitalization of $10.36 billion, a P/E ratio of 45.41 and a beta of 1.46. Rambus, Inc. has a one year low of $40.12 and a one year high of $109.15. The stock has a 50 day moving average price of $87.63 and a 200-day moving average price of $68.20.

Rambus 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.