6,041 Shares in Rambus, Inc. $RMBS Bought by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased 6,041 shares of Rambus, Inc., valued at approximately $387,000, during the second quarter.
• Hedge funds collectively own 88.54% of Rambus's stock, with several firms significantly increasing their stakes recently.
• Rambus has received a mix of analyst ratings, with numerous upgrades including price targets raised to as high as $130.00 and a consensus rating of "Buy."

Counterpoint Mutual Funds LLC bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,041 shares of the semiconductor company's stock, valued at approximately $387,000.

A number of other hedge funds have also made changes to their positions in RMBS. Price T Rowe Associates Inc. MD raised its stake in shares of Rambus by 60.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after buying an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. acquired a new position in Rambus during the first quarter worth about $60,535,000. Nuveen LLC purchased a new stake in shares of Rambus in the first quarter valued at about $57,084,000. Assenagon Asset Management S.A. grew its position in shares of Rambus by 392.9% in the second quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company's stock valued at $56,438,000 after purchasing an additional 702,704 shares during the last quarter. Finally, Park West Asset Management LLC purchased a new position in shares of Rambus during the 1st quarter worth approximately $30,503,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RMBS. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Evercore ISI boosted their price target on Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a report on Tuesday, September 16th. Robert W. Baird increased their price objective on Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a research report on Thursday, August 28th. Finally, Rosenblatt Securities boosted their target price on shares of Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $93.50.

Rambus Stock Performance

NASDAQ RMBS opened at $102.62 on Wednesday. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 48.41 and a beta of 1.38. Rambus, Inc. has a one year low of $38.15 and a one year high of $109.15. The company's 50 day moving average price is $76.99 and its 200 day moving average price is $62.61.

Insider Buying and Selling at Rambus

In related news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $83,325.00. Following the completion of the sale, the director directly owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This represents a 1.72% 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 stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the sale, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,260 shares of company stock worth $2,407,852. 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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