Legato Capital Management LLC Takes Position in Rambus, Inc. (NASDAQ:RMBS)

Legato Capital Management LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,575 shares of the semiconductor company's stock, valued at approximately $599,000.

Several other large investors also recently bought and sold shares of the business. Tsfg LLC acquired a new position in shares of Rambus in the 1st quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in shares of Rambus in the 4th quarter worth approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. Quarry LP lifted its holdings in shares of Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 247 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Rambus by 129.6% in the 1st quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock worth $64,000 after acquiring an additional 696 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RMBS shares. Wall Street Zen upgraded shares of Rambus from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of "Buy" and an average target price of $75.00.

Rambus Trading Down 2.1%

Shares of NASDAQ RMBS traded down $1.36 during mid-day trading on Friday, reaching $62.85. The company had a trading volume of 973,954 shares, compared to its average volume of 1,011,801. The firm has a 50 day simple moving average of $60.76 and a two-hundred day simple moving average of $57.22. The stock has a market cap of $6.75 billion, a P/E ratio of 32.73 and a beta of 1.24. Rambus, Inc. has a 52-week low of $37.42 and a 52-week high of $70.05.

Insider Buying and Selling

In other Rambus news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director directly owned 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

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.