Aspetuck Financial Management LLC Buys New Shares in Rambus, Inc. (NASDAQ:RMBS)

Aspetuck Financial Management LLC acquired 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 acquired 42,275 shares of the semiconductor company's stock, valued at approximately $2,189,000. Rambus accounts for about 1.9% of Aspetuck Financial Management LLC's holdings, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RMBS. Orion Capital Management LLC bought a new position in shares of Rambus in the fourth quarter valued at approximately $37,000. Skandinaviska Enskilda Banken AB publ boosted its stake in Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 640 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after purchasing an additional 891 shares during the period. Quarry LP increased its position 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 purchasing an additional 247 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Rambus by 129.6% in the 1st quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock worth $64,000 after buying an additional 696 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, Director Steven Laub sold 3,653 shares of the firm'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 sale, the director now directly owns 10,904 shares of the company's stock, valued at approximately $605,826.24. This trade represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the transaction, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at $15,767,667.64. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,848 shares of company stock worth $2,057,733 over the last three months. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $75.00.

Rambus Stock Performance

Shares of NASDAQ RMBS traded up $1.17 during trading hours on Friday, hitting $63.69. The stock had a trading volume of 343,741 shares, compared to its average volume of 1,249,482. The firm's 50-day moving average price is $54.80 and its two-hundred day moving average price is $55.84. Rambus, Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The company has a market capitalization of $6.84 billion, a P/E ratio of 33.17 and a beta of 1.20.

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.