Cerity Partners LLC Has $1.32 Million Stock Holdings in Rambus, Inc. (NASDAQ:RMBS)

Cerity Partners LLC increased its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 68.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,443 shares of the semiconductor company's stock after buying an additional 10,367 shares during the quarter. Cerity Partners LLC's holdings in Rambus were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mariner LLC lifted its stake in shares of Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares in the last quarter. Quarry LP increased its position in shares of Rambus by 26.9% during 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. Oppenheimer Asset Management Inc. increased its position in shares of Rambus by 4.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock worth $298,000 after acquiring an additional 266 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock worth $73,000 after acquiring an additional 282 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Rambus by 6.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,609 shares of the semiconductor company's stock worth $296,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Down 2.1%

RMBS traded down $1.36 during midday trading on Friday, reaching $62.85. 973,954 shares of the company's stock were exchanged, compared to its average volume of 1,011,801. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 32.73 and a beta of 1.24. Rambus, Inc. has a one year low of $37.42 and a one year high of $70.05. The business has a 50-day simple moving average of $60.89 and a two-hundred day simple moving average of $57.27.

Wall Street Analyst Weigh In

RMBS has been the subject of several research analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen raised Rambus from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Six equities research analysts have rated the stock with a buy rating and two have assigned 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 $75.00.

Insider Buying and Selling at Rambus

In other news, Director Steven Laub sold 1,847 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the sale, the director owned 9,057 shares of the company's stock, valued at approximately $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.

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.