Rambus, Inc. (NASDAQ:RMBS) Stake Raised by LPL Financial LLC

Key Points

• LPL Financial LLC raised its stake in Rambus, Inc. by 26.3% in the first quarter, owning 80,016 shares valued at approximately $4.14 million.
• Rambus has a market cap of $8.18 billion and its shares have a 52-week range of $37.42 to $78.16, currently trading at $76.00.
• Recent analyst activity includes upgrades from Susquehanna and Rosenblatt Securities, with the consensus rating on Rambus stock being a "Buy" and a target price of $77.71.

LPL Financial LLC increased its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,016 shares of the semiconductor company's stock after acquiring an additional 16,652 shares during the period. LPL Financial LLC owned about 0.07% of Rambus worth $4,143,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Mariner LLC lifted its stake in Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after acquiring an additional 167 shares in the last quarter. Quarry LP lifted its stake in 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 in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Rambus by 4.8% in the 1st 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 in the last quarter. Xponance Inc. grew its stake in Rambus by 1.8% in the first quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock valued at $803,000 after purchasing an additional 280 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Rambus by 24.8% in the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $76.00 on Friday. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 35.85 and a beta of 1.28. The business's 50-day simple moving average is $66.03 and its 200-day simple moving average is $58.57. Rambus, Inc. has a 52 week low of $37.42 and a 52 week high of $78.16.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RMBS shares. Susquehanna boosted 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. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Rosenblatt Securities boosted their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group boosted 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $77.71.

Insider Activity

In other news, Director Steven Laub sold 3,653 shares of the 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 transaction, the director owned 10,904 shares of the company's stock, valued at approximately $605,826.24. This represents a 25.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emiko Higashi sold 1,111 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director directly owned 63,371 shares in the company, valued at approximately $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,111 shares of company stock valued at $939,567. 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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