Portside Wealth Group LLC Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Portside Wealth Group LLC purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,656 shares of the semiconductor company's stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rambus by 448.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock valued at $215,000 after acquiring an additional 3,245 shares during the period. Choreo LLC increased its stake in Rambus by 10.2% in the fourth quarter. Choreo LLC now owns 11,837 shares of the semiconductor company's stock valued at $634,000 after purchasing an additional 1,094 shares in the last quarter. Meritage Portfolio Management raised its holdings in shares of Rambus by 84.3% during the fourth quarter. Meritage Portfolio Management now owns 25,204 shares of the semiconductor company's stock valued at $1,332,000 after purchasing an additional 11,531 shares during the period. Empowered Funds LLC boosted its position in shares of Rambus by 160.3% during the 4th quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company's stock worth $897,000 after purchasing an additional 10,450 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of Rambus by 9.7% in the 4th quarter. WCM Investment Management LLC now owns 386,527 shares of the semiconductor company's stock valued at $20,718,000 after buying an additional 34,124 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insider Activity at Rambus

In related news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the completion of the sale, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at approximately $15,767,667.64. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Laub sold 1,847 shares of Rambus 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 transaction, the director now directly owns 9,057 shares in the company, 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. Insiders have sold a total of 61,848 shares of company stock valued at $3,182,033 over the last 90 days. Insiders own 1.00% of the company's stock.

Rambus Stock Performance

Shares of RMBS opened at $56.56 on Friday. The firm has a market capitalization of $6.08 billion, a P/E ratio of 34.07 and a beta of 1.24. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The stock has a 50 day moving average price of $50.81 and a two-hundred day moving average price of $55.47.

Analyst Ratings Changes

Several brokerages have issued reports on RMBS. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $75.00.

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.

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