Meritage Portfolio Management Has $1.33 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

Meritage Portfolio Management raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 84.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,204 shares of the semiconductor company’s stock after buying an additional 11,531 shares during the quarter. Meritage Portfolio Management’s holdings in Rambus were worth $1,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMBS. Choreo LLC boosted its holdings in shares of Rambus by 10.2% during the fourth quarter. Choreo LLC now owns 11,837 shares of the semiconductor company’s stock worth $634,000 after purchasing an additional 1,094 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rambus by 448.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 3,245 shares during the period. KBC Group NV grew its holdings in shares of Rambus by 54.8% during the 4th quarter. KBC Group NV now owns 4,008 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 1,419 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Rambus by 8.6% in the fourth quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company’s stock worth $233,000 after acquiring an additional 350 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after acquiring an additional 520,754 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rambus

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

Rambus Price Performance

Rambus stock opened at $67.75 on Thursday. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $67.90. The firm has a fifty day moving average price of $57.84 and a two-hundred day moving average price of $50.19. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 42.08 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of brokerages have commented on RMBS. Susquehanna boosted their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Finally, Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $77.29.

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.