City Center Advisors LLC Invests $263,000 in Rambus, Inc. $RMBS

Key Points

• City Center Advisors LLC has invested approximately $263,000 in Rambus, acquiring 4,110 shares of the semiconductor company during the second quarter.
• Rambus experienced positive ratings and price target increases from multiple equities analysts, with a strong consensus rating of Buy and an average target price of approximately $79.38.
• Insider trading reports indicate significant sales by directors, with a total of 20,186 shares sold over three months, while company insiders own only 1.00% of the stock.

City Center Advisors LLC acquired a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,110 shares of the semiconductor company's stock, valued at approximately $263,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its position in Rambus by 2.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after buying an additional 179 shares during the period. Evergreen Capital Management LLC grew its position in Rambus by 3.3% during the first quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company's stock valued at $380,000 after buying an additional 234 shares during the period. Oppenheimer Asset Management Inc. grew its position in Rambus by 4.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after buying an additional 266 shares during the period. Xponance Inc. grew its position in Rambus by 1.8% during the first quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock valued at $803,000 after buying an additional 280 shares during the period. Finally, Fifth Third Bancorp grew its position in Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after buying an additional 282 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Price Performance

Shares of RMBS stock opened at $86.03 on Friday. The firm's 50-day moving average is $71.82 and its two-hundred day moving average is $60.29. Rambus, Inc. has a 12 month low of $38.01 and a 12 month high of $89.98. The company has a market capitalization of $9.26 billion, a PE ratio of 40.58 and a beta of 1.38.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Susquehanna increased 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 raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Thursday, August 28th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Rosenblatt Securities increased their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Two equities 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 presently has a consensus rating of "Buy" and an average target price of $79.38.

Insider Activity

In related news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the completion of the transaction, the director owned 30,824 shares in the company, valued at approximately $2,639,459.12. The trade was a 19.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of Rambus stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the transaction, the director owned 62,296 shares of the company's stock, valued at $4,843,514. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,186 shares of company stock valued at $1,575,766. Company insiders own 1.00% of the company's stock.

Rambus Company 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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