Bank of New York Mellon Corp Increases Stock Position in Rambus, Inc. $RMBS

by · The Cerbat Gem

Bank of New York Mellon Corp lifted its holdings in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,019,504 shares of the semiconductor company’s stock after buying an additional 235,253 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.88% of Rambus worth $129,289,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Rambus in the 1st quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its position in shares of Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 596 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Rambus in the 1st quarter worth approximately $42,000. Finally, Larson Financial Group LLC increased its position in Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 794 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

NASDAQ RMBS opened at $106.49 on Friday. The business’s fifty day moving average is $95.97 and its 200 day moving average is $73.81. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $114.55. The company has a market capitalization of $11.46 billion, a PE ratio of 50.47 and a beta of 1.47.

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total value of $83,581.25. Following the sale, the director owned 62,296 shares in the company, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares in the company, valued at approximately $5,908,231. The trade was a 12.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,302 shares of company stock valued at $1,839,652 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RMBS. Arete Research upgraded shares of Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Robert W. Baird increased their price target on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Thursday, August 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $103.38.

Check Out Our Latest Report on Rambus

Rambus Company Profile

(Free Report)

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.

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