Lord Abbett & CO. LLC Purchases Shares of 341,986 Rambus, Inc. $RMBS

Key Points

• Lord Abbett & CO. LLC has acquired 341,986 shares of Rambus, Inc. valued at approximately $17.7 million, representing about 0.32% ownership of the company.
• Insider transactions include Director Steven Laub selling 1,847 shares at an average price of $55.12, reducing his stake by 16.94%.
• Recent analyses show a mix of ratings on Rambus, with Wall Street ratings varying from a "hold" by Wall Street Zen to "buy" ratings from other firms, reflecting investment interest amid stock price fluctuations.

Lord Abbett & CO. LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 341,986 shares of the semiconductor company's stock, valued at approximately $17,706,000. Lord Abbett & CO. LLC owned 0.32% of Rambus at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RMBS. Wells Fargo & Company MN grew its position in shares of Rambus by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company's stock valued at $5,177,000 after purchasing an additional 21,552 shares during the period. Envestnet Asset Management Inc. increased its holdings in Rambus by 86.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company's stock valued at $3,908,000 after buying an additional 34,193 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Rambus in the fourth quarter valued at about $201,000. Barclays PLC increased its holdings in Rambus by 21.8% in the fourth quarter. Barclays PLC now owns 263,453 shares of the semiconductor company's stock valued at $13,927,000 after buying an additional 47,194 shares during the last quarter. Finally, Mariner LLC increased its holdings in Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock valued at $659,000 after buying an additional 167 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RMBS has been the subject of several recent research reports. Jefferies Financial Group upped their target price on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a 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. Rosenblatt Securities boosted their price objective on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Susquehanna boosted their price objective on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat, Rambus has a consensus rating of "Buy" and a consensus price target of $77.71.

Rambus Trading Up 1.2%

NASDAQ:RMBS traded up $0.82 during trading hours on Thursday, hitting $70.50. 186,976 shares of the stock traded hands, compared to its average volume of 1,055,980. Rambus, Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $78.16. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 33.25 and a beta of 1.28. The firm has a 50 day moving average price of $67.07 and a 200 day moving average price of $58.90.

Insider Transactions at Rambus

In other news, 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 value of $551,475.00. Following the transaction, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction 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 completion of the sale, the director 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,533 shares of company stock valued at $820,188. 1.00% of the stock is owned by insiders.

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.