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Townsquare Capital LLC Purchases 52,013 Shares of Rambus, Inc. (NASDAQ:RMBS)

Rambus logo with Computer and Technology background

Key Points

  • Townsquare Capital LLC significantly increased its stake in Rambus, acquiring 52,013 additional shares during the first quarter, bringing its total ownership to 0.09% worth $5.1 million.
  • Wall Street analysts maintain a consensus rating of "Buy" for Rambus, with a target price raised to $75 by several firms, indicating expected growth in the stock.
  • Insider transactions reported indicate that directors sold shares recently, with Emiko Higashi and Steven Laub reducing their holdings, which could signal insider sentiment on the stock's near-term performance.
  • Want stock alerts on Rambus? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Townsquare Capital LLC boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 112.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,403 shares of the semiconductor company's stock after acquiring an additional 52,013 shares during the period. Townsquare Capital LLC owned 0.09% of Rambus worth $5,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Rambus by 16.9% in the fourth quarter. LPL Financial LLC now owns 63,364 shares of the semiconductor company's stock valued at $3,349,000 after purchasing an additional 9,183 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Rambus by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company's stock valued at $5,177,000 after purchasing an additional 21,552 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Rambus by 86.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company's stock valued at $3,908,000 after purchasing an additional 34,193 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Rambus in the fourth quarter valued at $201,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Rambus in the fourth quarter valued at $51,500,000. Institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RMBS. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday. Susquehanna raised 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. Jefferies Financial Group lifted their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities lifted their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $77.71.

Check Out Our Latest Analysis on Rambus

Insider Transactions at Rambus

In other news, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the sale, the director owned 63,371 shares in the company, valued at approximately $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 6,611 shares of company stock worth $388,092 in the last 90 days. Insiders own 1.00% of the company's stock.

Rambus Stock Performance

Shares of Rambus stock opened at $72.86 on Friday. The company has a market capitalization of $7.84 billion, a PE ratio of 34.37 and a beta of 1.28. The company has a 50-day simple moving average of $64.49 and a two-hundred day simple moving average of $58.16. Rambus, Inc. has a one year low of $37.42 and a one year high of $76.20.

Rambus Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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