Apis Capital Advisors LLC Invests $4.87 Million in Rambus, Inc. $RMBS

Key Points

• Apis Capital Advisors LLC acquired 94,000 shares of Rambus, Inc. for about $4.87 million, making it the fund's 12th largest holding.
• Rambus shares have seen institutional interest, with several firms, including Price T Rowe Associates and American Century Companies, significantly increasing their stakes.
• Despite a 9% drop in stock price recently, Rambus holds a strong buy consensus among analysts, with a price target averaging $79.38.

Apis Capital Advisors LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 94,000 shares of the semiconductor company's stock, valued at approximately $4,867,000. Rambus makes up about 2.4% of Apis Capital Advisors LLC's portfolio, making the stock its 12th largest holding. Apis Capital Advisors LLC owned approximately 0.09% of Rambus at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares 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 position in shares of Rambus during the first quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in Rambus in the fourth quarter worth about $37,000. Larson Financial Group LLC raised its holdings in Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in shares of Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 968 shares during the period. Institutional investors own 88.54% of the company's stock.

Rambus Trading Down 0.5%

RMBS stock traded down $0.36 during trading on Friday, reaching $75.05. The stock had a trading volume of 742,353 shares, compared to its average volume of 1,070,035. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $81.89. The firm has a fifty day moving average price of $70.12 and a 200 day moving average price of $59.64. The company has a market capitalization of $8.07 billion, a P/E ratio of 35.41 and a beta of 1.38.

Insider Activity

In related news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the sale, the director owned 63,371 shares of the company's stock, valued at $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Meera Rao sold 3,000 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 29,914 shares in the company, valued at $2,145,432.08. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,686 shares of company stock valued at $933,541. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RMBS. Susquehanna lifted their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Arete Research upgraded shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Rosenblatt Securities lifted their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price for the company in a report on Thursday, August 28th. Finally, Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $79.38.

Rambus 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.