Lisanti Capital Growth LLC Buys New Position in Rambus, Inc. (NASDAQ:RMBS)

Lisanti Capital Growth LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 51,925 shares of the semiconductor company's stock, valued at approximately $2,688,000.

Several other institutional investors have also added to or reduced their stakes in the company. Tsfg LLC bought a new position in Rambus during the 1st quarter worth $26,000. Orion Capital Management LLC bought a new position in Rambus during the fourth quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ increased its position in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC raised its stake in Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 891 shares in the last quarter. Finally, Quarry LP boosted its holdings in Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 247 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RMBS. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Rosenblatt Securities restated a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $75.00.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer directly owned 319,241 shares in the company, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven Laub sold 1,847 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director owned 9,057 shares of the company's stock, valued at approximately $499,221.84. This trade represents a 16.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,848 shares of company stock worth $1,548,933. Insiders own 1.00% of the company's stock.

Rambus Price Performance

NASDAQ:RMBS traded up $0.86 during mid-day trading on Wednesday, reaching $65.00. The stock had a trading volume of 1,024,023 shares, compared to its average volume of 1,248,211. Rambus, Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The stock has a market capitalization of $6.98 billion, a PE ratio of 33.85 and a beta of 1.24. The stock has a 50-day simple moving average of $55.96 and a two-hundred day simple moving average of $55.95.

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.