K2 Principal Fund L.P. Invests $597,000 in Rambus, Inc. $RMBS

Key Points

• K2 Principal Fund L.P. acquired 11,520 shares of Rambus, Inc. valued at approximately $597,000, signaling growing institutional interest in the semiconductor company.
• Rambus stock has recently seen upgrades from analysts, with a new price target set at $91.00 by Arete Research, indicating strong bullish sentiment.
• Insider activity has been noted, with Director Meera Rao selling 3,000 shares of Rambus, reflecting a 9.11% decrease in her ownership stake.

K2 Principal Fund L.P. acquired a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,520 shares of the semiconductor company's stock, valued at approximately $597,000.

A number of other large investors have also added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD increased its stake in Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after acquiring an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. bought a new stake in Rambus in the 1st quarter worth approximately $60,535,000. Nuveen LLC bought a new stake in Rambus in the 1st quarter worth approximately $57,084,000. Schwartz Investment Counsel Inc. bought a new stake in Rambus in the 1st quarter worth approximately $19,690,000. Finally, Lord Abbett & CO. LLC bought a new stake in Rambus in the 1st quarter worth approximately $17,706,000. Institutional investors own 88.54% of the company's stock.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of the firm's 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 in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Meera Rao sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total value of $215,160.00. Following the completion of the transaction, the director owned 29,914 shares of the company's stock, valued at approximately $2,145,432.08. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,686 shares of company stock worth $933,541 over the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RMBS shares. Arete Research raised Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Rosenblatt Securities boosted their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Susquehanna boosted their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group boosted their target price on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $79.38.

Rambus Price Performance

Rambus stock traded up $1.27 during midday trading on Tuesday, reaching $74.55. The company's stock had a trading volume of 1,170,894 shares, compared to its average volume of 1,078,912. The stock's 50-day simple moving average is $70.52 and its 200-day simple moving average is $59.68. Rambus, Inc. has a 52-week low of $38.01 and a 52-week high of $81.89. The stock has a market capitalization of $8.02 billion, a P/E ratio of 35.17 and a beta of 1.38.

About Rambus

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.