Rambus Inc. (NASDAQ:RMBS) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC lifted its holdings in Rambus Inc. (NASDAQ:RMBS) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,527 shares of the semiconductor company’s stock after buying an additional 34,124 shares during the period. WCM Investment Management LLC’s holdings in Rambus were worth $20,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Empowered Funds LLC boosted its holdings in shares of Rambus by 160.3% during the 4th quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company’s stock worth $897,000 after purchasing an additional 10,450 shares during the last quarter. Meritage Portfolio Management grew its holdings in Rambus by 84.3% in the 4th quarter. Meritage Portfolio Management now owns 25,204 shares of the semiconductor company’s stock valued at $1,332,000 after buying an additional 11,531 shares in the last quarter. Choreo LLC increased its stake in shares of Rambus by 10.2% in the 4th quarter. Choreo LLC now owns 11,837 shares of the semiconductor company’s stock worth $634,000 after acquiring an additional 1,094 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 worth $215,000 after acquiring an additional 3,245 shares during the period. Finally, KBC Group NV raised 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 worth $212,000 after acquiring an additional 1,419 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Loop Capital initiated coverage on shares of Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a report on Wednesday. Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price for the company. Finally, Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rambus has a consensus rating of “Buy” and an average price target of $77.29.

Rambus Trading Down 0.4 %

RMBS stock opened at $67.00 on Friday. The company has a market capitalization of $7.14 billion, a PE ratio of 40.36 and a beta of 1.26. The business’s fifty day moving average price is $58.44 and its 200 day moving average price is $50.46. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15.

Insiders Place Their Bets

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

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.