Campbell Newman Asset Management Inc. Has $2.06 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

Campbell Newman Asset Management Inc. raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 72.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 39,046 shares of the semiconductor company’s stock after purchasing an additional 16,376 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Rambus were worth $2,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. lifted its position in shares of Rambus by 32.3% during the 3rd 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 in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Rambus during the 3rd quarter valued at $989,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus during the 3rd quarter worth $2,077,000. Assenagon Asset Management S.A. boosted its holdings in shares of Rambus by 339.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after buying an additional 978,417 shares during the last quarter. Finally, FORA Capital LLC grew its position in Rambus by 63.7% during the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock valued at $1,701,000 after buying an additional 15,671 shares during the period. 88.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Rambus Trading Up 2.4 %

Shares of RMBS stock traded up $1.37 during trading hours on Wednesday, reaching $58.02. The stock had a trading volume of 31,075 shares, compared to its average volume of 582,592. The stock’s fifty day simple moving average is $55.87 and its 200 day simple moving average is $50.28. The firm has a market capitalization of $6.18 billion, a PE ratio of 36.04 and a beta of 1.23. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

Wall Street Analysts Forecast Growth

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

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.