Norges Bank Makes New $94.37 Million Investment in Rambus Inc. (NASDAQ:RMBS)

Norges Bank bought a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,785,242 shares of the semiconductor company’s stock, valued at approximately $94,368,000. Norges Bank owned approximately 1.68% of Rambus as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RMBS. UMB Bank n.a. grew its position in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 640 shares in the last quarter. Quarry LP increased its position in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Farther Finance Advisors LLC raised its stake in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 shares during the period. 88.54% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Luc Seraphin sold 10,000 shares of the 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 sale, the chief executive officer now directly owns 316,931 shares in the company, valued at $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated 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 directly owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,952 shares of company stock valued at $4,992,255 over the last quarter. 1.00% of the stock is owned by company insiders.

Rambus Trading Up 1.0 %

Rambus stock opened at $52.29 on Wednesday. The stock has a 50-day moving average price of $58.95 and a two-hundred day moving average price of $53.68. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The company has a market capitalization of $5.62 billion, a PE ratio of 31.50 and a beta of 1.25.

Wall Street Analyst Weigh In

Several equities analysts have commented on RMBS shares. Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research report on Monday, February 3rd. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. 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 equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price 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.