Congress Wealth Management LLC DE Takes Position in Rambus Inc. (NASDAQ:RMBS)

Congress Wealth Management LLC DE bought a new position in Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, HoldingsChannel.com reports. The firm bought 120,733 shares of the semiconductor company’s stock, valued at approximately $6,382,000.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after purchasing an additional 520,754 shares during the last quarter. World Investment Advisors LLC bought a new stake in Rambus during the third quarter worth about $989,000. Campbell Newman Asset Management Inc. raised its stake in shares of Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock valued at $2,064,000 after acquiring an additional 16,376 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rambus in the 3rd quarter worth approximately $2,077,000. Finally, FORA Capital LLC grew its position in Rambus by 63.7% during the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company’s stock worth $1,701,000 after acquiring an additional 15,671 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the transaction, the chief executive officer now owns 316,931 shares of the company’s stock, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,952 shares of company stock worth $4,405,855 in the last three months. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on RMBS shares. Rosenblatt Securities boosted their price objective on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Susquehanna increased their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued 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 an average target price of $76.71.

Rambus Stock Performance

Shares of RMBS stock opened at $58.94 on Wednesday. The firm’s 50 day moving average price is $59.66 and its two-hundred day moving average price is $53.18. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The stock has a market cap of $6.33 billion, a PE ratio of 35.51 and a beta of 1.25.

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.