Prudential Financial Inc. Grows Stake in Rambus Inc. (NASDAQ:RMBS)

Prudential Financial Inc. raised its holdings in Rambus Inc. (NASDAQ:RMBS) by 6.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 289,241 shares of the semiconductor company’s stock after buying an additional 16,571 shares during the quarter. Prudential Financial Inc.’s holdings in Rambus were worth $15,289,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 640 shares in the last quarter. Quarry LP lifted its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Rambus by 12.3% during 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. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Necip Sayiner sold 4,625 shares of the 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction that occurred 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 owns 93,841 shares of the company’s stock, valued at approximately $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 76,952 shares of company stock worth $4,992,255 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Rambus Trading Down 2.1 %

Shares of NASDAQ:RMBS opened at $55.44 on Friday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 33.40 and a beta of 1.25. The stock has a fifty day simple moving average of $59.53 and a two-hundred day simple moving average of $53.22.

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.