Portside Wealth Group LLC Has $462,000 Stock Position in Rambus Inc. (NASDAQ:RMBS)

Portside Wealth Group LLC boosted its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 91.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,924 shares of the semiconductor company's stock after buying an additional 4,268 shares during the period. Portside Wealth Group LLC's holdings in Rambus were worth $462,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Rambus during the fourth quarter valued at about $37,000. Skandinaviska Enskilda Banken AB publ increased its stake in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC raised its holdings in Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after acquiring an additional 891 shares in the last quarter. Quarry LP lifted its position 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 period. Finally, UMB Bank n.a. lifted its position 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 period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at $17,047,718.49. This trade represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven Laub sold 3,653 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the sale, the director now directly owns 10,904 shares in the company, valued at $605,826.24. This represents a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,848 shares of company stock worth $3,182,033. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $80.00 price objective on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $75.00.

Rambus Stock Down 4.2%

NASDAQ:RMBS traded down $2.56 during trading hours on Friday, reaching $58.10. The company had a trading volume of 892,400 shares, compared to its average volume of 1,268,473. The stock has a 50-day moving average of $52.39 and a two-hundred day moving average of $55.67. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The firm has a market capitalization of $6.24 billion, a PE ratio of 35.00 and a beta of 1.20.

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.