HighTower Advisors LLC Grows Stake in Rambus Inc. (NASDAQ:RMBS)

HighTower Advisors LLC increased its position in Rambus Inc. (NASDAQ:RMBS) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 237,217 shares of the semiconductor company’s stock after purchasing an additional 3,924 shares during the quarter. HighTower Advisors LLC’s holdings in Rambus were worth $12,539,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D grew its holdings in shares of Rambus by 18.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 44,207 shares of the semiconductor company’s stock worth $1,866,000 after acquiring an additional 6,877 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Rambus in the third quarter worth about $227,000. Empowered Funds LLC purchased a new stake in shares of Rambus in the third quarter worth about $275,000. Natixis Advisors LLC increased its stake in Rambus by 32.4% during the third quarter. Natixis Advisors LLC now owns 295,307 shares of the semiconductor company’s stock worth $12,468,000 after acquiring an additional 72,280 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 32.3% during 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RMBS shares. Susquehanna increased their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Wells Fargo & Company raised their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $76.71.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 4,625 shares of the business’s 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 sale, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction 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. Insiders own 1.00% of the company’s stock.

Rambus Stock Up 4.8 %

NASDAQ:RMBS opened at $54.43 on Monday. The company has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $52.45. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 32.79 and a beta of 1.25. 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.