Schwartz Investment Counsel Inc. Invests $19.69 Million in Rambus, Inc. (NASDAQ:RMBS)

Schwartz Investment Counsel Inc. bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 380,337 shares of the semiconductor company's stock, valued at approximately $19,690,000. Schwartz Investment Counsel Inc. owned approximately 0.35% of Rambus at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RMBS. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rambus by 781.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,979 shares of the semiconductor company's stock valued at $1,878,000 after purchasing an additional 31,011 shares in the last quarter. Diversified Trust Co raised its holdings in Rambus by 1.8% in the 1st quarter. Diversified Trust Co now owns 30,592 shares of the semiconductor company's stock valued at $1,584,000 after buying an additional 551 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after buying an additional 808 shares during the period. Aspetuck Financial Management LLC acquired a new stake in Rambus during the 1st quarter worth approximately $2,189,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in Rambus by 4.8% during 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 during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity at Rambus

In related news, Director Steven Laub sold 1,847 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the transaction, the director owned 9,057 shares in the company, valued at $499,221.84. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Luc Seraphin sold 6,348 shares of Rambus stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the sale, the chief executive officer directly owned 319,241 shares of the company's stock, valued at approximately $14,994,749.77. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,848 shares of company stock valued at $1,548,933. Insiders own 1.00% of the company's stock.

Rambus Price Performance

Shares of Rambus stock traded up $0.12 on Tuesday, hitting $64.14. 1,124,956 shares of the company's stock traded hands, compared to its average volume of 1,248,387. The company has a fifty day moving average of $55.56 and a two-hundred day moving average of $55.89. Rambus, Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 33.41 and a beta of 1.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RMBS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Rambus presently has a consensus rating of "Buy" and an average price target of $75.00.

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.