Aspetuck Financial Management LLC Purchases Shares of 42,275 Rambus, Inc. (NASDAQ:RMBS)

Aspetuck Financial Management LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 42,275 shares of the semiconductor company's stock, valued at approximately $2,189,000. Rambus makes up 1.9% of Aspetuck Financial Management LLC's investment portfolio, making the stock its 20th largest position.

Other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 166 shares during the last quarter. Mariner LLC raised its holdings in Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock valued at $659,000 after buying an additional 167 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Rambus by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock worth $2,400,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after acquiring an additional 202 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of Rambus stock traded up $1.48 during trading on Friday, reaching $64.00. The company's stock had a trading volume of 1,940,215 shares, compared to its average volume of 1,249,107. Rambus, Inc. has a one year low of $37.43 and a one year high of $69.15. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 33.33 and a beta of 1.20. The business's fifty day moving average price is $55.16 and its 200-day moving average price is $55.86.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $75.00.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the transaction, the chief executive officer now owns 319,241 shares of the company's stock, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now directly owns 10,904 shares of the company's stock, valued at $605,826.24. This represents a 25.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,848 shares of company stock valued at $2,057,733. Insiders own 1.00% of the company's stock.

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.