Ellsworth Advisors LLC Takes Position in Rambus, Inc. $RMBS

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 Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Rambus during the 1st quarter worth approximately $25,000. Tsfg LLC bought a new stake in Rambus during the 1st quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Rambus during the fourth quarter worth $37,000. McIlrath & Eck LLC bought a new stake in shares of Rambus during the first quarter worth $42,000. Finally, Larson Financial Group LLC increased its position in shares of Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 1.4%

Shares of NASDAQ:RMBS traded up $1.36 during trading on Tuesday, reaching $96.24. 1,466,223 shares of the stock were exchanged, compared to its average volume of 1,135,800. Rambus, Inc. has a 12 month low of $38.01 and a 12 month high of $100.73. The firm has a market cap of $10.35 billion, a PE ratio of 45.39 and a beta of 1.38. The stock has a 50-day moving average price of $72.45 and a 200-day moving average price of $60.62.

Analysts Set New Price Targets

A number of research firms have issued reports on RMBS. Robert W. Baird increased their target price on Rambus from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Thursday, August 28th. Susquehanna increased their price objective on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Evercore ISI raised their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Jefferies Financial Group raised their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $88.50.

Insider Activity at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the business's 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 $4,843,514. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares of the company's stock, valued at approximately $2,639,459.12. The trade was a 19.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,186 shares of company stock worth $1,575,766 in the last ninety days. 1.00% of the stock is 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.