Financiere des Professionnels Fonds d investissement inc. Takes $468,000 Position in Rambus, Inc. $RMBS

Key Points

• Financiere des Professionnels Fonds d'investissement inc. acquired 7,317 shares of Rambus, Inc., valued at approximately $468,000, marking a new investment position in the semiconductor company.
• Multiple institutional investors have increased their holdings in Rambus, with Price T Rowe Associates Inc. boosting its shares by 60.5% in the first quarter alone.
• Following recent insider sales, including transactions by CFO Desmond Lynch, corporate insiders own only 1.00% of the company's stock, raising concerns about insider confidence.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,317 shares of the semiconductor company's stock, valued at approximately $468,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rambus by 10.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company's stock worth $9,472,000 after acquiring an additional 17,282 shares during the period. Park West Asset Management LLC acquired a new stake in shares of Rambus in the first quarter valued at approximately $30,503,000. Sequoia Financial Advisors LLC raised its holdings in shares of Rambus by 19.1% during the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after buying an additional 808 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Rambus during the first quarter valued at approximately $235,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Rambus by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after buying an additional 3,711 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity

In other Rambus news, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction that occurred 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 transaction, the director directly owned 63,371 shares in the company, valued at approximately $4,752,825. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares in the company, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,260 shares of company stock valued at $2,407,852. 1.00% of the stock is currently owned by company insiders.

Rambus Stock Down 4.7%

Rambus stock traded down $5.03 during mid-day trading on Friday, hitting $102.35. The company's stock had a trading volume of 9,561,482 shares, compared to its average volume of 1,983,657. The stock has a market capitalization of $11.01 billion, a P/E ratio of 48.28 and a beta of 1.38. Rambus, Inc. has a twelve month low of $38.15 and a twelve month high of $107.67. The stock's fifty day moving average price is $75.36 and its two-hundred day moving average price is $61.90.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Susquehanna lifted their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities lifted their price target on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Evercore ISI lifted their price target on Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Arete raised Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $93.50.

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.