Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 927.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 709 shares of the semiconductor company’s stock after purchasing an additional 640 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Rambus were worth $38,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares during the period. Geode Capital Management LLC boosted its stake in Rambus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares during the period. Swedbank AB boosted its stake in Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after purchasing an additional 193,150 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rambus by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock valued at $66,062,000 after purchasing an additional 5,761 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Rambus during the 4th quarter valued at about $51,500,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Rambus Price Performance

RMBS stock opened at $54.33 on Wednesday. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The firm has a market cap of $5.84 billion, a PE ratio of 32.73 and a beta of 1.25. The firm has a 50 day simple moving average of $59.56 and a 200 day simple moving average of $52.59.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Evercore ISI assumed coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Finally, StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $76.71.

About Rambus

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.