74,709 Shares in Rambus, Inc. $RMBS Acquired by Ellsworth Advisors LLC

Key Points

• Ellsworth Advisors LLC purchased 74,709 shares of Rambus, Inc. for approximately $3.87 million, representing about 0.07% ownership in the semiconductor company.
• Several large investors have recently increased their stakes in Rambus, with Ameriprise Financial and Deutsche Bank AG showing significant increases of 9.1% and 40.1%, respectively.
• Analysts have a positive outlook on Rambus, with several raising their price targets, and the stock currently has an average rating of "Buy" with a target of $79.38.

Ellsworth Advisors LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 74,709 shares of the semiconductor company's stock, valued at approximately $3,868,000. Ellsworth Advisors LLC owned approximately 0.07% of Rambus as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in RMBS. Ameriprise Financial Inc. increased its position in shares of Rambus by 9.1% during the fourth quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock worth $13,169,000 after purchasing an additional 20,682 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Rambus by 3.2% in the fourth quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock valued at $1,294,000 after purchasing an additional 757 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Rambus by 40.1% in the fourth quarter. Deutsche Bank AG now owns 139,002 shares of the semiconductor company's stock valued at $7,348,000 after purchasing an additional 39,798 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Rambus by 112.3% in the fourth quarter. Lazard Asset Management LLC now owns 69,169 shares of the semiconductor company's stock valued at $3,655,000 after purchasing an additional 36,582 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Rambus by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,064,700 shares of the semiconductor company's stock valued at $56,280,000 after purchasing an additional 116,079 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Up 3.4%

NASDAQ RMBS opened at $77.11 on Thursday. The stock has a market cap of $8.30 billion, a PE ratio of 36.37 and a beta of 1.38. Rambus, Inc. has a twelve month low of $38.01 and a twelve month high of $81.89. The stock has a fifty day simple moving average of $70.97 and a 200-day simple moving average of $59.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RMBS shares. Susquehanna increased 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. Jefferies Financial Group increased 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. Arete raised Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Arete Research raised Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, Rambus currently has an average rating of "Buy" and an average price target of $79.38.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 3,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the transaction, the director directly owned 29,914 shares in the company, valued at approximately $2,145,432.08. This represents a 9.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the transaction, 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. In the last ninety days, insiders sold 12,686 shares of company stock worth $933,541. 1.00% of the stock is currently owned by company insiders.

Rambus Company Profile

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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