Rambus, Inc. (NASDAQ:RMBS) Shares Purchased by Polen Capital Management LLC

Key Points

• Polen Capital Management LLC increased its stake in Rambus, Inc. by 9.9%, owning a total of 109,117 shares after acquiring 9,858 additional shares.
• Rambus stock is currently trading at $72.86 with a market capitalization of $7.84 billion and a twelve-month high of $76.20.
• Wall Street analysts maintain a generally positive outlook on Rambus, with an average target price of $77.71 and multiple brokerages issuing buy ratings.

Polen Capital Management LLC grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,117 shares of the semiconductor company's stock after purchasing an additional 9,858 shares during the period. Polen Capital Management LLC owned approximately 0.10% of Rambus worth $5,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RMBS. Banque Cantonale Vaudoise purchased a new position in Rambus in the 1st quarter worth $25,000. Tsfg LLC purchased a new position in shares of Rambus during the 1st quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in shares of Rambus during the 4th quarter valued at about $37,000. Larson Financial Group LLC raised its stake in shares of Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after buying an additional 794 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 3,653 shares of the company's 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 completion of the transaction, the director owned 10,904 shares in the company, valued at $605,826.24. This represents a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the director owned 38,324 shares of the company's stock, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,111 shares of company stock worth $939,567 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of recent research reports. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday. Jefferies Financial Group lifted their price objective on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Susquehanna raised their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Finally, Rosenblatt Securities raised their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $77.71.

Rambus Stock Performance

NASDAQ RMBS traded up $3.67 during trading hours on Tuesday, hitting $76.44. The company had a trading volume of 1,108,912 shares, compared to its average volume of 1,487,370. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $76.63. The company has a market cap of $8.22 billion, a PE ratio of 36.06 and a beta of 1.28. The business has a 50 day moving average of $65.25 and a 200-day moving average of $58.32.

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.