Equitable Trust Co. Buys New Shares in Rambus Inc. (NASDAQ:RMBS)

Equitable Trust Co. purchased a new position in Rambus Inc. (NASDAQ:RMBS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 5,775 shares of the semiconductor company’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Rambus by 339.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares in the last quarter. SG Americas Securities LLC raised its stake in Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after acquiring an additional 520,754 shares during the period. Point72 Hong Kong Ltd purchased a new position in Rambus during the third quarter valued at approximately $18,984,000. Vaughan Nelson Investment Management L.P. boosted its position 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 purchasing an additional 357,160 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Rambus by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after purchasing an additional 356,496 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Rosenblatt Securities raised their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective for the company. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus target price of $77.29.

Insider Transactions at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction 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 completion of the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Rambus Trading Down 3.6 %

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

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.