Raymond James Financial Inc. Makes New $51.50 Million Investment in Rambus Inc. (NASDAQ:RMBS)

Raymond James Financial Inc. purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, Holdings Channel reports. The fund purchased 974,284 shares of the semiconductor company’s stock, valued at approximately $51,500,000.

Several other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System raised its position in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after acquiring an additional 202 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Rambus during the 4th quarter valued at $978,000. M&T Bank Corp bought a new stake in shares of Rambus during the 4th quarter valued at $233,000. Atria Investments Inc bought a new stake in shares of Rambus during the 4th quarter valued at $336,000. Finally, Assetmark Inc. raised its position in shares of Rambus by 6.3% during the 4th quarter. Assetmark Inc. now owns 104,946 shares of the semiconductor company’s stock valued at $5,547,000 after purchasing an additional 6,208 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the transaction, 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. Insiders sold 62,360 shares of company stock valued at $4,182,809 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Rosenblatt Securities raised their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $76.71.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $51.55 on Wednesday. The company has a market cap of $5.51 billion, a P/E ratio of 31.05 and a beta of 1.25. The firm’s fifty day moving average is $59.71 and its two-hundred day moving average is $52.27. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.

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.