Bank of New York Mellon Corp Increases Stock Holdings in Rambus, Inc. $RMBS

Bank of New York Mellon Corp increased its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,019,504 shares of the semiconductor company’s stock after purchasing an additional 235,253 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rambus were worth $129,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMBS. Price T Rowe Associates Inc. MD boosted its stake in Rambus by 60.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after buying an additional 3,297,728 shares during the period. American Century Companies Inc. lifted its holdings in shares of Rambus by 21.1% in the 1st quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company’s stock worth $73,747,000 after acquiring an additional 248,013 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Rambus by 6.4% during the 2nd quarter. Congress Asset Management Co. now owns 1,276,926 shares of the semiconductor company’s stock worth $81,749,000 after purchasing an additional 77,362 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Rambus by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company’s stock worth $65,047,000 after purchasing an additional 6,600 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Rambus by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company’s stock valued at $63,798,000 after purchasing an additional 104,356 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RMBS shares. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Arete Research raised Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Rambus in a research note on Tuesday, October 28th. Finally, Susquehanna set a $100.00 target price on shares of Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $103.38.

Rambus Price Performance

Rambus stock opened at $106.49 on Friday. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $114.55. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 50.47 and a beta of 1.47. The business has a fifty day moving average price of $95.97 and a 200-day moving average price of $73.81.

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the firm’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 directly owned 62,296 shares of the company’s stock, valued at $4,843,514. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the firm’s 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 sale, the director directly owned 30,824 shares in the company, valued at $2,639,459.12. The trade was a 19.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,302 shares of company stock worth $1,839,652 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.