Alliance Wealth Advisors LLC UT Invests $620,000 in Rambus, Inc. $RMBS

Key Points

• Alliance Wealth Advisors LLC UT acquired a new stake in Rambus, purchasing 11,970 shares valued at approximately $620,000 during the first quarter.
• Insider trading activity included the sale of 1,847 shares by Director Steven Laub and 1,075 shares by Director Emiko Higashi, indicating a decrease in their ownership positions.
• Brokerage updates have varied, with Susquehanna and Jefferies raising their price targets to $75, while Wall Street Zen downgraded Rambus to a "hold" rating, reflecting mixed sentiments among analysts.

Alliance Wealth Advisors LLC UT bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,970 shares of the semiconductor company's stock, valued at approximately $620,000.

Several other institutional investors have also modified their holdings of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Rambus in the first quarter valued at $25,000. Tsfg LLC acquired a new stake in Rambus in the 1st quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in shares of Rambus in the 4th quarter valued at about $37,000. Larson Financial Group LLC grew 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 buying an additional 794 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $73.53, for a total transaction of $551,475.00. Following the transaction, the director owned 38,324 shares of the company's stock, valued at $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,533 shares of company stock valued at $820,188. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted 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. 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. Susquehanna increased their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of "Buy" and a consensus target price of $77.71.

Rambus Trading Down 0.1%

Shares of NASDAQ RMBS traded down $0.10 during mid-day trading on Wednesday, reaching $69.68. The company had a trading volume of 1,548,604 shares, compared to its average volume of 1,061,675. The firm has a 50 day simple moving average of $66.90 and a two-hundred day simple moving average of $58.82. Rambus, Inc. has a 52-week low of $37.42 and a 52-week high of $78.16. The stock has a market cap of $7.50 billion, a P/E ratio of 32.87 and a beta of 1.28.

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.