Kovitz Investment Group Partners LLC Purchases Shares of 16,573 Rambus, Inc. $RMBS

Key Points

• Kovitz Investment Group Partners LLC has acquired 16,573 shares of Rambus, Inc., totaling approximately $858,000, indicating growing institutional interest in the semiconductor company.
• Insider sales at Rambus included significant transactions by Director Steven Laub and Director Necip Sayiner, both reducing their stakes in the company by over 16%.
• Rambus stock has received several analyst upgrades, with price targets raised by firms like Jefferies and Rosenblatt, suggesting a positive outlook for the company's future performance.

Kovitz Investment Group Partners LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,573 shares of the semiconductor company's stock, valued at approximately $858,000.

Several other hedge funds have also recently bought and sold shares of the company. Mariner LLC raised its position in shares of Rambus by 1.4% during the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after buying an additional 167 shares in the last quarter. Quarry LP increased its position in shares of Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 247 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Rambus by 4.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock worth $298,000 after acquiring an additional 266 shares in the last quarter. Xponance Inc. grew its position in 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 purchasing an additional 280 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMBS. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Susquehanna boosted their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Jefferies Financial Group boosted their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities boosted their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, Rambus has an average rating of "Buy" and an average price target of $77.71.

Insider Activity at Rambus

In related news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $83,325.00. Following the completion of the transaction, the director directly owned 63,371 shares in the company, valued at $4,752,825. This represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the transaction, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,533 shares of company stock worth $820,188 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Rambus Stock Up 4.7%

RMBS stock traded up $3.33 during trading hours on Friday, hitting $73.77. The company's stock had a trading volume of 1,005,921 shares, compared to its average volume of 1,403,963. The company has a market capitalization of $7.94 billion, a PE ratio of 34.80 and a beta of 1.28. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $78.16. The stock has a 50 day moving average price of $67.58 and a two-hundred day moving average price of $59.03.

Rambus Company 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.