American Century Companies Inc. Acquires 74,478 Shares of Rambus Inc. (NASDAQ:RMBS)

American Century Companies Inc. raised its holdings in Rambus Inc. (NASDAQ:RMBS) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,176,352 shares of the semiconductor company’s stock after acquiring an additional 74,478 shares during the period. American Century Companies Inc.’s holdings in Rambus were worth $62,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in Rambus during the third quarter worth $275,000. Great Valley Advisor Group Inc. increased its holdings in shares of Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 350 shares during the period. Cerity Partners LLC raised its position in shares of Rambus by 69.5% during the third quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock valued at $701,000 after buying an additional 6,814 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus in the third quarter valued at about $2,077,000. Finally, Qsemble Capital Management LP acquired a new stake in Rambus during the third quarter worth about $3,163,000. 88.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on RMBS shares. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective for the company. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Finally, Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus price target of $76.71.

Insider Transactions at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The stock was 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 approximately $6,383,064.82. This trade represents a 35.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares in the company, 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. Over the last three months, insiders have sold 66,952 shares of company stock worth $4,405,855. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Up 0.1 %

Shares of NASDAQ RMBS opened at $58.94 on Wednesday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The firm’s 50-day simple moving average is $59.66 and its 200 day simple moving average is $53.18. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 35.51 and a beta of 1.25.

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.