Royce & Associates LP Purchases 59,772 Shares of Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Royce & Associates LP increased its stake in Rambus, Inc. by 49.8%, owning approximately 0.17% of the semiconductor company, valued at $9.3 million.
• Rambus has seen increased interest from institutional investors, with Vanguard and Price T Rowe Associates significantly raising their positions in the company.
• The stock received a new "strong-buy" rating from Wall Street Zen, with a consensus rating of "Buy" and an average price target of $75.00.

Royce & Associates LP increased its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 49.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,907 shares of the semiconductor company's stock after acquiring an additional 59,772 shares during the quarter. Royce & Associates LP owned about 0.17% of Rambus worth $9,315,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Tsfg LLC purchased a new stake in Rambus during the first quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in Rambus during the fourth quarter valued at $37,000. Larson Financial Group LLC raised its stake in 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 in the last quarter. Quarry LP raised its stake 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 acquiring an additional 247 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Rambus by 129.6% in the first quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock valued at $64,000 after acquiring an additional 696 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Down 2.1%

RMBS stock traded down $1.36 during trading on Friday, hitting $62.85. The company had a trading volume of 973,954 shares, compared to its average volume of 1,011,801. The firm has a market capitalization of $6.75 billion, a P/E ratio of 32.73 and a beta of 1.24. Rambus, Inc. has a 52-week low of $37.42 and a 52-week high of $70.05. The company has a 50 day simple moving average of $60.89 and a 200-day simple moving average of $57.27.

Analysts Set New Price Targets

RMBS has been the topic of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen raised shares of Rambus from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $75.00.

Insider Buying and Selling

In other Rambus news, Director Steven Laub sold 3,653 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were 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 trade represents a 25.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.