103,312 Shares in Rambus, Inc. $RMBS Bought by Stanley Laman Group Ltd.

Key Points

• Stanley Laman Group Ltd. acquired 103,312 shares of Rambus, Inc., valued at approximately $6.6 million, making it the company's 14th largest position.
• Institutional investors own 88.54% of Rambus stock, with several hedge funds significantly increasing their stakes during the second quarter.
• Wall Street analysts have a generally positive outlook on Rambus, with recent price target increases from various firms, including a target of $130.00 from Rosenblatt Securities.

Stanley Laman Group Ltd. acquired a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 103,312 shares of the semiconductor company's stock, valued at approximately $6,614,000. Rambus makes up 1.0% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 14th biggest position. Stanley Laman Group Ltd. owned about 0.10% of Rambus at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Rambus by 1,216.0% during the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company's stock valued at $4,381,000 after purchasing an additional 63,864 shares in the last quarter. WCM Investment Management LLC lifted its stake in Rambus by 7.3% in the 2nd quarter. WCM Investment Management LLC now owns 416,901 shares of the semiconductor company's stock worth $26,682,000 after purchasing an additional 28,246 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of Rambus by 479.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,483 shares of the semiconductor company's stock worth $95,000 after acquiring an additional 1,227 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Rambus during the 2nd quarter valued at approximately $287,000. Finally, Envestnet Portfolio Solutions Inc. raised its position in Rambus by 202.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,947 shares of the semiconductor company's stock worth $1,085,000 after purchasing an additional 11,342 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Stock Down 1.9%

Shares of Rambus stock opened at $96.26 on Friday. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $109.15. The business's fifty day moving average is $87.63 and its two-hundred day moving average is $68.10. The firm has a market cap of $10.36 billion, a PE ratio of 45.41 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMBS. Robert W. Baird increased their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Rosenblatt Securities increased their price objective on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Weiss Ratings downgraded Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Finally, Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a "neutral" rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $96.63.

Insider Buying and Selling at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares in the company, valued at approximately $4,843,514. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Necip Sayiner sold 7,500 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $85.63, for a total value of $642,225.00. Following the transaction, the director owned 30,824 shares in the company, valued at approximately $2,639,459.12. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,913 shares of company stock valued at $2,474,452 in the last quarter. Company insiders own 1.00% of the company's stock.

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.

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