SG Americas Securities LLC Grows Stock Position in Rambus Inc. (NASDAQ:RMBS)

SG Americas Securities LLC lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 1,657.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 552,173 shares of the semiconductor company’s stock after buying an additional 520,754 shares during the quarter. SG Americas Securities LLC’s holdings in Rambus were worth $29,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised its stake in shares of Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Rambus during the third quarter worth approximately $989,000. Campbell Newman Asset Management Inc. raised its stake in shares of Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock worth $2,064,000 after purchasing an additional 16,376 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rambus during the third quarter worth approximately $2,077,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Rambus stock opened at $64.50 on Thursday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 40.06 and a beta of 1.23. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $75.98. The stock’s fifty day moving average is $56.35 and its two-hundred day moving average is $50.31.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Robert W. Baird assumed coverage on Rambus in a report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $74.67.

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.