Granahan Investment Management LLC Boosts Stock Position in Rambus, Inc. $RMBS

Key Points

• Granahan Investment Management LLC increased its stake in Rambus, Inc. (NASDAQ:RMBS) by 55.8%, owning 128,682 shares valued at $6.66 million after purchasing an additional 46,062 shares in Q1.
• Wall Street analysts are optimistic, with several brokerages raising their price targets for Rambus, leading to an average target price of $79.38 and a consensus rating of "Buy".
• Insider transactions included Director Necip Sayiner selling 7,500 shares for approximately $551,475, resulting in a 16.37% decrease in ownership.

Granahan Investment Management LLC boosted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 55.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,682 shares of the semiconductor company's stock after purchasing an additional 46,062 shares during the period. Granahan Investment Management LLC owned about 0.12% of Rambus worth $6,663,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of RMBS. Price T Rowe Associates Inc. MD lifted its stake in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock valued at $452,870,000 after purchasing an additional 3,297,728 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new position in Rambus in the first quarter valued at approximately $60,535,000. Nuveen LLC purchased a new position in Rambus in the first quarter valued at approximately $57,084,000. Schwartz Investment Counsel Inc. purchased a new position in Rambus in the first quarter valued at approximately $19,690,000. Finally, Lord Abbett & CO. LLC purchased a new position in Rambus in the first quarter valued at approximately $17,706,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

RMBS traded up $1.27 during trading on Tuesday, reaching $74.55. The stock had a trading volume of 1,170,890 shares, compared to its average volume of 1,078,912. The stock has a market cap of $8.02 billion, a PE ratio of 35.17 and a beta of 1.38. Rambus, Inc. has a one year low of $38.01 and a one year high of $81.89. The business has a 50-day moving average of $70.52 and a 200-day moving average of $59.68.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the sale, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the sale, the director owned 62,296 shares of the company's stock, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,686 shares of company stock worth $933,541 over the last three months. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Rosenblatt Securities upped their price objective on 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 price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Jefferies Financial Group boosted their target price on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, Rambus presently has a consensus rating of "Buy" and a consensus target price of $79.38.

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.