Jefferies Financial Group Inc. Buys New Holdings in Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Jefferies Financial Group Inc. acquired a new stake in Rambus, Inc., purchasing 4,028 shares valued at approximately $209,000 in the first quarter.
• Several large investors, including Sequoia Financial Advisors and Allspring Global Investments, also increased their positions in Rambus, indicating strong institutional interest.
• Rambus stock has recently received upgrades from multiple analysts, with price targets raised, currently averaging $77.71, reflecting positive market sentiment.

Jefferies Financial Group Inc. bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 4,028 shares of the semiconductor company's stock, valued at approximately $209,000.

A number of other hedge funds have also made changes to their positions in the company. LPL Financial LLC raised its position in shares of Rambus by 16.9% during the fourth quarter. LPL Financial LLC now owns 63,364 shares of the semiconductor company's stock worth $3,349,000 after acquiring an additional 9,183 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Rambus by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company's stock worth $5,177,000 after acquiring an additional 21,552 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Rambus by 86.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company's stock worth $3,908,000 after acquiring an additional 34,193 shares during the last quarter. Invesco Ltd. raised its position in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Rambus during the fourth quarter worth $201,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the transaction, the director directly owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,111 shares of company stock valued at $939,567. 1.00% of the stock is currently owned by company insiders.

Rambus Stock Up 5.0%

Shares of RMBS traded up $3.67 during midday trading on Tuesday, hitting $76.44. The company's stock had a trading volume of 1,108,083 shares, compared to its average volume of 1,060,272. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 36.06 and a beta of 1.28. Rambus, Inc. has a one year low of $37.42 and a one year high of $76.63. The company's fifty day simple moving average is $64.85 and its two-hundred day simple moving average is $58.19.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Susquehanna increased their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research report on Sunday. Rosenblatt Securities raised their price objective on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group raised their price objective on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of "Buy" and an average target price of $77.71.

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.