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 bought a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,110 shares of the semiconductor company's stock, valued at approximately $263,000.

Several other institutional investors also recently bought and sold shares of the company. Strs Ohio purchased a new stake in Rambus during the 1st quarter valued at about $1,413,000. Ellsworth Advisors LLC purchased a new stake in Rambus during the 1st quarter valued at about $3,868,000. Acadian Asset Management LLC purchased a new stake in Rambus during the 1st quarter valued at about $218,000. Intech Investment Management LLC grew its position in Rambus by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company's stock valued at $4,166,000 after purchasing an additional 22,677 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock valued at $16,025,000 after acquiring an additional 19,120 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Up 7.2%

NASDAQ RMBS traded up $7.06 on Thursday, reaching $104.58. 1,859,334 shares of the stock were exchanged, compared to its average volume of 1,154,921. Rambus, Inc. has a one year low of $38.15 and a one year high of $105.25. The company's 50-day simple moving average is $73.74 and its two-hundred day simple moving average is $61.13. The firm has a market capitalization of $11.25 billion, a PE ratio of 49.33 and a beta of 1.38.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Evercore ISI raised their price target on shares of Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a report on Tuesday. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Rosenblatt Securities raised their price target on shares of Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price target 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 research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $93.50.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director directly owned 30,824 shares of the company's stock, valued at $2,639,459.12. This trade represents a 19.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Desmond Lynch sold 9,074 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the transaction, the chief financial officer directly owned 64,430 shares of the company's stock, valued at approximately $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,260 shares of company stock valued at $2,407,852. Corporate 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.