Osterweis Capital Management Inc. Buys 109,560 Shares of Rambus, Inc. $RMBS

Key Points

• Osterweis Capital Management Inc. increased its stake in Rambus, Inc. by 62% during Q1, owning approximately 286,305 shares valued at $14.82 million.
• Insider transactions included Director Emiko Higashi selling 1,075 shares and Necip Sayiner selling 7,500 shares, representing decreases of 1.70% and 16.37% in their holdings, respectively.
• Rambus received mixed ratings from analysts, with price targets ranging from $75 to $90, but maintained an overall consensus rating of "Buy".

Osterweis Capital Management Inc. increased its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 62.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,305 shares of the semiconductor company's stock after acquiring an additional 109,560 shares during the quarter. Osterweis Capital Management Inc. owned 0.27% of Rambus worth $14,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in Rambus during the 1st quarter valued at $340,000. Hsbc Holdings PLC increased its stake in Rambus by 14.8% during the 1st quarter. Hsbc Holdings PLC now owns 22,192 shares of the semiconductor company's stock valued at $1,138,000 after purchasing an additional 2,868 shares in the last quarter. Brooklyn Investment Group increased its stake in Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 968 shares in the last quarter. Alliance Wealth Advisors LLC UT bought a new stake in Rambus during the 1st quarter valued at $620,000. Finally, Nations Financial Group Inc. IA ADV increased its stake in Rambus by 2.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the sale, the director directly owned 38,324 shares of the company's stock, valued at $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Emiko Higashi sold 1,075 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares in the company, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,533 shares of company stock valued at $820,188 over the last three months. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RMBS. Rosenblatt Securities upped their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Susquehanna upped their target price on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Jefferies Financial Group upped their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and an average price target of $77.71.

Rambus Stock Performance

NASDAQ RMBS traded up $3.33 during trading on Friday, hitting $73.77. 1,005,921 shares of the company's stock traded hands, compared to its average volume of 1,403,963. The stock has a market capitalization of $7.94 billion, a price-to-earnings 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 business has a 50 day moving average of $67.58 and a 200-day moving average of $59.03.

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.