Campbell Newman Asset Management Inc. Boosts Stake in Rambus, Inc. $RMBS

Key Points

• Campbell Newman Asset Management Inc. increased its stake in Rambus, Inc. by 7.2% during Q2, now holding 41,663 shares valued at $2.67 million.
• Institutional investors collectively own 88.54% of Rambus' shares, with Price T Rowe Associates significantly increasing its stake by 60.5% in the first quarter.
• Recent analyst upgrades have raised Rambus' price targets significantly, with Rosenblatt Securities boosting it from $90.00 to $130.00, reflecting a strong positive outlook for the stock.

Campbell Newman Asset Management Inc. grew its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,663 shares of the semiconductor company's stock after acquiring an additional 2,784 shares during the quarter. Campbell Newman Asset Management Inc.'s holdings in Rambus were worth $2,667,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock valued at $452,870,000 after purchasing an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new position in shares of Rambus in the 1st quarter worth approximately $60,535,000. Nuveen LLC bought a new position in shares of Rambus during the 1st quarter worth approximately $57,084,000. Assenagon Asset Management S.A. increased its position in shares of Rambus by 392.9% during the second quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company's stock worth $56,438,000 after purchasing an additional 702,704 shares in the last quarter. Finally, Park West Asset Management LLC acquired a new stake in shares of Rambus in the 1st quarter worth $30,503,000. Institutional investors own 88.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Rosenblatt Securities raised their price target on Rambus from $90.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Evercore ISI raised their target price on Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 16th. Robert W. Baird boosted their price target on Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Jefferies Financial Group raised their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research report 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 company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $93.50.

Rambus Price Performance

NASDAQ:RMBS opened at $103.99 on Tuesday. The company has a 50 day moving average price of $79.71 and a 200-day moving average price of $64.06. Rambus, Inc. has a 1-year low of $39.56 and a 1-year high of $109.15. The firm has a market cap of $11.19 billion, a price-to-earnings ratio of 49.05 and a beta of 1.38.

Insider Activity

In other news, Director Meera Rao sold 3,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the sale, the director directly owned 29,914 shares of the company's stock, valued at $2,145,432.08. This represents a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the completion of the transaction, the chief financial officer owned 64,430 shares of the company's stock, valued at approximately $5,908,231. This represents a 12.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,260 shares of company stock worth $2,407,852. 1.00% of the stock is currently owned by insiders.

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.

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