PNC Financial Services Group Inc. Increases Holdings in Rambus Inc. (NASDAQ:RMBS)

PNC Financial Services Group Inc. lifted its holdings in Rambus Inc. (NASDAQ:RMBS) by 71.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,284 shares of the semiconductor company’s stock after buying an additional 6,781 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rambus were worth $861,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its stake in Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after buying an additional 164,830 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Rambus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after acquiring an additional 21,053 shares during the last quarter. Swedbank AB boosted its position in shares of Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after acquiring an additional 193,150 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock valued at $66,062,000 after purchasing an additional 5,761 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Rambus in the fourth quarter worth $51,500,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently commented on RMBS. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Susquehanna boosted their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Buy” and a consensus price target of $76.71.

Rambus Trading Up 0.1 %

Rambus stock opened at $54.51 on Tuesday. The firm has a market cap of $5.86 billion, a PE ratio of 32.84 and a beta of 1.25. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The stock’s 50 day simple moving average is $59.60 and its two-hundred day simple moving average is $52.52.

About Rambus

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.