Cibc World Markets Corp Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Cibc World Markets Corp bought a new position in shares of Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,999 shares of the semiconductor company’s stock, valued at approximately $529,000.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. increased its stake in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 640 shares during the period. Quarry LP increased its stake in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 891 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective for the company. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Susquehanna increased their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. One equities research 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 presently has a consensus rating of “Buy” and a consensus target price of $76.71.

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,952 shares of company stock worth $4,405,855. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Rambus stock opened at $56.72 on Friday. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 34.17 and a beta of 1.25. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The stock’s 50 day moving average price is $59.56 and its two-hundred day moving average price is $52.82.

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.