Equitable Trust Co. Takes Position in Rambus Inc. (NASDAQ:RMBS)

Equitable Trust Co. purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,775 shares of the semiconductor company’s stock, valued at approximately $305,000.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares in the last quarter. SG Americas Securities LLC raised its stake in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after buying an additional 520,754 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Rambus in the third quarter worth $18,984,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after acquiring an additional 357,160 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Rambus by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock valued at $38,092,000 after acquiring an additional 356,496 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RMBS. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Susquehanna boosted their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $77.29.

Rambus Trading Down 3.6 %

Shares of RMBS stock opened at $64.72 on Wednesday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The stock has a market capitalization of $6.90 billion, a P/E ratio of 38.99 and a beta of 1.26. The firm’s 50 day moving average is $58.61 and its 200 day moving average is $50.38.

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.