K.J. Harrison & Partners Inc Makes New Investment in Rambus, Inc. (NASDAQ:RMBS)

K.J. Harrison & Partners Inc acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 7,500 shares of the semiconductor company's stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RMBS. Tsfg LLC bought a new position in shares of Rambus in the first quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in Rambus during the fourth quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ boosted its stake in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 640 shares during the period. Farther Finance Advisors LLC grew its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 891 shares in the last quarter. Finally, Quarry LP raised its holdings in Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Up 0.0%

Rambus stock traded up $0.02 during trading hours on Monday, reaching $64.02. 1,192,459 shares of the company's stock were exchanged, compared to its average volume of 1,248,881. The firm's 50 day simple moving average is $55.56 and its 200 day simple moving average is $55.89. Rambus, Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The firm has a market capitalization of $6.88 billion, a PE ratio of 33.34 and a beta of 1.20.

Insiders Place Their Bets

In other news, Director Steven Laub sold 1,847 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the transaction, the director directly owned 9,057 shares of the company's stock, valued at $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 6,348 shares of Rambus stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the sale, the chief executive officer directly owned 319,241 shares of the company's stock, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,848 shares of company stock valued at $2,057,733 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus price target of $75.00.

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.