LPL Financial LLC Buys 16,652 Shares of Rambus, Inc. $RMBS

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 grew its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 26.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,016 shares of the semiconductor company's stock after buying an additional 16,652 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Rambus worth $4,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RMBS. Tsfg LLC bought a new stake in Rambus during the 1st quarter worth about $26,000. Orion Capital Management LLC bought a new stake in shares of Rambus during the fourth quarter valued at approximately $37,000. Larson Financial Group LLC grew its stake in shares of Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 794 shares during the last quarter. Quarry LP increased 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 valued at $62,000 after purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Rambus by 129.6% in the 1st quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock worth $64,000 after purchasing an additional 696 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In related news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the sale, the director owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emiko Higashi sold 1,075 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the sale, the director directly owned 62,296 shares in the company, valued at $4,843,514. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,533 shares of company stock valued at $820,188. Corporate insiders own 1.00% of the company's stock.

Rambus Trading Down 2.8%

Shares of RMBS stock traded down $2.11 on Tuesday, reaching $73.67. The company had a trading volume of 116,678 shares, compared to its average volume of 1,047,717. The stock has a market cap of $7.93 billion, a PE ratio of 34.93 and a beta of 1.28. The company has a 50-day moving average of $66.70 and a 200-day moving average of $58.74. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $78.16.

Analyst Ratings Changes

RMBS has been the topic of a number of recent research reports. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Rosenblatt Securities upped their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Jefferies Financial Group lifted their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, 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 report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rambus currently has a consensus rating of "Buy" and a consensus price target of $77.71.

Rambus Company 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.