Rambus Inc. (NASDAQ:RMBS) Stake Boosted by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its stake in Rambus Inc. (NASDAQ:RMBS) by 30.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,288 shares of the semiconductor company’s stock after purchasing an additional 1,228 shares during the period. Sanctuary Advisors LLC’s holdings in Rambus were worth $223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Rambus by 77.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 16,100 shares of the semiconductor company’s stock valued at $946,000 after buying an additional 7,031 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Rambus by 28.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,905 shares of the semiconductor company’s stock worth $1,463,000 after acquiring an additional 5,564 shares during the period. Van ECK Associates Corp lifted its position in Rambus by 22.2% in the 2nd quarter. Van ECK Associates Corp now owns 53,581 shares of the semiconductor company’s stock valued at $3,148,000 after purchasing an additional 9,725 shares during the last quarter. Natixis Advisors LLC lifted its position in Rambus by 6.7% in the 2nd quarter. Natixis Advisors LLC now owns 223,027 shares of the semiconductor company’s stock valued at $13,105,000 after purchasing an additional 14,093 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Rambus by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 340,637 shares of the semiconductor company’s stock valued at $20,016,000 after purchasing an additional 5,360 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on RMBS. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 target price on the stock. Robert W. Baird initiated coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Loop Capital began coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and a consensus price target of $74.67.

Rambus Stock Performance

RMBS opened at $54.24 on Monday. The stock’s fifty day moving average is $53.58 and its 200-day moving average is $50.33. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The company has a market capitalization of $5.78 billion, a PE ratio of 33.69 and a beta of 1.22.

Insiders Place Their Bets

In other Rambus 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 transaction, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Rambus 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.