Russell Investments Group Ltd. Grows Holdings in Rambus, Inc. $RMBS

Key Points

• Russell Investments Group Ltd. increased its holdings in Rambus, Inc. by 77% in the first quarter, owning 140,157 shares valued at approximately $7.26 million.
• Several institutional investors have recently acquired stakes in Rambus, contributing to 88.54% of the company's stock ownership by such entities.
• Rambus' stock has seen analyst upgrades, with Jefferies raising its price target from $69 to $75, indicating a consensus "Buy" rating among analysts.

Russell Investments Group Ltd. boosted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 77.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,157 shares of the semiconductor company's stock after purchasing an additional 60,984 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Rambus worth $7,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Rambus in the 1st quarter valued at about $25,000. Tsfg LLC acquired a new stake in shares of Rambus in the first quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of Rambus in the fourth quarter worth approximately $37,000. Larson Financial Group LLC grew its holdings in Rambus by 1,260.3% in 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 period. Finally, Quarry LP grew its holdings in 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 during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RMBS. Susquehanna boosted their target price on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities boosted their target price on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. 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, Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $77.71.

Rambus Price Performance

NASDAQ RMBS traded up $3.33 on Friday, reaching $73.77. The company had a trading volume of 1,005,921 shares, compared to its average volume of 1,403,963. The firm has a market capitalization of $7.94 billion, a PE ratio of 34.80 and a beta of 1.28. Rambus, Inc. has a 1 year low of $37.42 and a 1 year high of $78.16. The firm has a 50-day moving average of $67.58 and a 200-day moving average of $59.03.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emiko Higashi sold 1,111 shares of the stock in a transaction that occurred on 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 owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,533 shares of company stock worth $820,188 in the last 90 days. 1.00% of the stock is owned by company insiders.

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.