Rambus, Inc. (NASDAQ:RMBS) Shares Purchased by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. purchased an additional 104,356 shares of Rambus, Inc., increasing its holdings by 9.3% in the 1st quarter, making it a significant institutional investor with a total of 1,232,210 shares valued at approximately $63.8 million.
• Rambus has received multiple positive upgrades from analysts, with Rosenblatt Securities raising its target price from $80 to $90 and maintaining a "buy" rating, while eight analysts currently hold a buy rating.
• Despite recent growth and analyst optimism, Rambus shares saw a decline of 2.6% on Wednesday, but they have a market cap of $7.94 billion with a 12-month trading range between $37.42 and $76.20.

Westwood Holdings Group Inc. grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,232,210 shares of the semiconductor company's stock after acquiring an additional 104,356 shares during the period. Westwood Holdings Group Inc. owned about 1.15% of Rambus worth $63,798,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its holdings in Rambus by 19.1% during the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after purchasing an additional 808 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 3,711 shares in the last quarter. KBC Group NV grew its holdings in shares of Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after acquiring an additional 757 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after acquiring an additional 1,436 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Rambus by 57.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company's stock worth $358,000 after purchasing an additional 2,522 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rambus Stock Down 2.6%

Shares of NASDAQ:RMBS opened at $73.79 on Wednesday. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $76.20. The company's fifty day simple moving average is $63.40 and its 200 day simple moving average is $57.98. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 34.81 and a beta of 1.28.

Insider Transactions at Rambus

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

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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