Rambus, Inc. (NASDAQ:RMBS) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Rambus, Inc. by 269.5% during the first quarter, now owning 26,163 shares valued at approximately $1.35 million.
• Recent changes in institutional holdings include significant increases by firms such as Larson Financial Group (up 1,260.3%) and UMB Bank (up 129.6%), indicating strong interest in Rambus shares.
• Rosenblatt Securities raised its price target for Rambus from $80.00 to $90.00, with the stock currently holding a consensus rating of "Buy" and an average price target of $77.71.

Mackenzie Financial Corp raised its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 269.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,163 shares of the semiconductor company's stock after acquiring an additional 19,082 shares during the quarter. Mackenzie Financial Corp's holdings in Rambus were worth $1,355,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Rambus in the first quarter worth $26,000. Orion Capital Management LLC acquired a new position in shares of Rambus in the fourth quarter worth $37,000. Larson Financial Group LLC raised its holdings in shares of Rambus by 1,260.3% in the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. Quarry LP raised its holdings in shares of Rambus by 26.9% in the fourth 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 last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Rambus by 129.6% in the first 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 last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rambus news, Director Steven Laub sold 3,653 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the transaction, the director owned 10,904 shares of the company's stock, valued at $605,826.24. This trade represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $75.73 on Tuesday. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 35.72 and a beta of 1.28. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $76.07. The business has a 50-day moving average of $62.58 and a 200-day moving average of $57.77.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RMBS. Rosenblatt Securities boosted their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen lowered Rambus from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group upped their target price on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Susquehanna upped their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $77.71.

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.

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