Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rambus Inc. (NASDAQ:RMBS) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,129 shares of the semiconductor company’s stock after purchasing an additional 4,224 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rambus were worth $1,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in 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 purchasing an additional 455 shares during the period. Quarry LP raised its position in Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 264 shares during the period. Lindbrook Capital LLC raised its position in Rambus by 12.3% in the fourth 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. GAMMA Investing LLC raised its position in Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 514 shares during the period. Finally, Moody National Bank Trust Division purchased a new stake in Rambus in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

NASDAQ:RMBS opened at $54.33 on Wednesday. The firm has a market capitalization of $5.84 billion, a PE ratio of 32.73 and a beta of 1.25. The business’s fifty day moving average price is $59.56 and its 200 day moving average price is $52.59. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Insider Activity at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Finally, Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $76.71.

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.