Rambus, Inc. $RMBS Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its stake in Rambus, Inc. (NASDAQ:RMBS) by 250.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,591 shares of the semiconductor company’s stock after purchasing an additional 9,718 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Rambus were worth $870,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Rambus by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock worth $9,472,000 after acquiring an additional 17,282 shares in the last quarter. Nordea Investment Management AB raised its position in Rambus by 1,216.0% in the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after acquiring an additional 63,864 shares in the last quarter. Park West Asset Management LLC bought a new stake in Rambus in the first quarter worth about $30,503,000. Sequoia Financial Advisors LLC raised its position in Rambus by 19.1% in the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company’s stock worth $261,000 after acquiring an additional 808 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in Rambus in the first quarter worth about $235,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Trading Up 3.7%

NASDAQ RMBS opened at $105.42 on Friday. The stock’s 50-day moving average price is $90.04 and its two-hundred day moving average price is $69.94. The company has a market cap of $11.34 billion, a PE ratio of 49.73 and a beta of 1.46. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $109.15.

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 1,075 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the sale, the director owned 62,296 shares in the company, valued at approximately $4,843,514. The trade was a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares of the company’s stock, valued at $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,913 shares of company stock worth $2,474,452 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on RMBS. Jefferies Financial Group boosted their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Weiss Ratings cut shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Robert W. Baird boosted their price target on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Finally, Arete Research upgraded shares of Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $96.63.

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.