Amalgamated Bank Buys 426 Shares of Rambus Inc. (NASDAQ:RMBS)

Amalgamated Bank increased its position in Rambus Inc. (NASDAQ:RMBS) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,847 shares of the semiconductor company’s stock after purchasing an additional 426 shares during the quarter. Amalgamated Bank’s holdings in Rambus were worth $2,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares in the last quarter. Quarry LP lifted its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. GAMMA Investing LLC increased its holdings in Rambus by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock valued at $166,000 after buying an additional 514 shares during the period. Meeder Asset Management Inc. raised its stake in Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after buying an additional 1,582 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its holdings in Rambus by 44.6% during the third quarter. MeadowBrook Investment Advisors LLC now owns 4,620 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,425 shares during the period. 88.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,360 shares of company stock worth $4,182,809. Company insiders own 1.00% of the company’s stock.

Rambus Trading Up 3.7 %

Shares of NASDAQ:RMBS opened at $55.89 on Friday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The business has a 50 day moving average of $59.84 and a two-hundred day moving average of $51.89. The company has a market capitalization of $5.96 billion, a PE ratio of 33.67 and a beta of 1.26.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RMBS. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Susquehanna increased their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of “Buy” and a consensus price target of $76.71.

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.