Congress Wealth Management LLC DE Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Congress Wealth Management LLC DE acquired a new stake in Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,733 shares of the semiconductor company’s stock, valued at approximately $6,382,000. Congress Wealth Management LLC DE owned 0.11% of Rambus as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RMBS. UMB Bank n.a. increased 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 buying an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 640 shares during the period. Quarry LP grew its position in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Farther Finance Advisors LLC grew its position in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

RMBS opened at $58.94 on Wednesday. The stock has a 50-day moving average of $59.66 and a 200-day moving average of $53.18. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The company has a market cap of $6.33 billion, a PE ratio of 35.51 and a beta of 1.25.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the chief executive officer now directly owns 316,931 shares in the company, valued at $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,952 shares of company stock worth $4,405,855 over the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.71.

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.