UMB Bank n.a. Boosts Stake in Rambus Inc. (NASDAQ:RMBS)

UMB Bank n.a. boosted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 129.6% in the first quarter, Holdings Channel reports. The institutional investor owned 1,233 shares of the semiconductor company’s stock after acquiring an additional 696 shares during the period. UMB Bank n.a.’s holdings in Rambus were worth $64,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Atria Investments Inc purchased a new stake in Rambus during the fourth quarter worth $336,000. Charles Schwab Investment Management Inc. lifted its holdings in Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock worth $66,062,000 after buying an additional 5,761 shares during the period. Corient Private Wealth LLC purchased a new stake in Rambus during the fourth quarter worth $269,000. Proficio Capital Partners LLC purchased a new stake in Rambus during the fourth quarter worth $978,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Rambus by 86.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company’s stock worth $3,908,000 after buying an additional 34,193 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RMBS. Rosenblatt Securities restated a “buy” rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen lowered Rambus from a “buy” rating to a “hold” rating in a report on Monday, May 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $75.00.

Rambus Trading Down 4.2%

Shares of RMBS opened at $58.10 on Friday. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The stock has a fifty day moving average price of $52.09 and a 200-day moving average price of $55.67. The firm has a market cap of $6.24 billion, a PE ratio of 35.00 and a beta of 1.20.

Insider Activity

In related news, Director Steven Laub sold 1,847 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the transaction, the director now owns 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the transaction, the chief executive officer now owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,848 shares of company stock worth $3,182,033. Insiders own 1.00% of the company’s stock.

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.