Edgestream Partners L.P. Takes $466,000 Position in Rambus, Inc. (NASDAQ:RMBS)

Edgestream Partners L.P. purchased a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,004 shares of the semiconductor company's stock, valued at approximately $466,000.

A number of other large investors also recently bought and sold shares of the business. Mariner LLC raised its holdings in Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Rambus by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock valued at $2,400,000 after acquiring an additional 200 shares during the last quarter. Quarry LP raised its holdings in shares of Rambus by 26.9% during the fourth 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. Oppenheimer Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 266 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of 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 acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity at Rambus

In related news, CEO Luc Seraphin sold 6,348 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the transaction, the chief executive officer directly owned 319,241 shares in the company, valued at approximately $14,994,749.77. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Laub sold 3,653 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director owned 10,904 shares of the company's stock, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,848 shares of company stock valued at $602,933 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen raised Rambus from a "buy" rating to a "strong-buy" rating in a report on Friday. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $75.00.

Rambus Price Performance

RMBS stock opened at $68.21 on Friday. The business has a 50 day simple moving average of $59.95 and a 200-day simple moving average of $56.90. The firm has a market capitalization of $7.33 billion, a PE ratio of 35.53 and a beta of 1.24. Rambus, Inc. has a 1 year low of $37.43 and a 1 year high of $69.43.

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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