Campbell Newman Asset Management Inc. Buys 16,376 Shares of Rambus Inc. (NASDAQ:RMBS)

Campbell Newman Asset Management Inc. increased its stake in Rambus Inc. (NASDAQ:RMBS) by 72.2% in the 4th quarter, Holdings Channel reports. The fund owned 39,046 shares of the semiconductor company’s stock after buying an additional 16,376 shares during the quarter. Campbell Newman Asset Management Inc.’s holdings in Rambus were worth $2,064,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RMBS. Assenagon Asset Management S.A. lifted its position in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after purchasing an additional 978,417 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Rambus by 559.7% during the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after buying an additional 486,078 shares during the period. Point72 Hong Kong Ltd bought a new position in Rambus in the third quarter worth about $18,984,000. Vaughan Nelson Investment Management L.P. lifted its holdings in 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 buying an additional 357,160 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in 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 buying an additional 356,496 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, valued at $1,693,619.80. The trade was a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Up 2.4 %

RMBS traded up $1.37 during mid-day trading on Wednesday, reaching $58.02. 31,075 shares of the company traded hands, compared to its average volume of 582,592. The company’s fifty day moving average price is $55.87 and its 200-day moving average price is $50.28. The stock has a market capitalization of $6.18 billion, a P/E ratio of 36.04 and a beta of 1.23. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research reports. Baird R W upgraded Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird started coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company initiated coverage on shares of Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price for the company. Finally, Loop Capital began coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of “Buy” and an average target price of $74.67.

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.