United Services Automobile Association Makes New Investment in Rambus, Inc. $RMBS

Key Points

• United Services Automobile Association has acquired 7,171 shares of Rambus, Inc. valued at approximately $385,000, marking a new investment in the semiconductor company.
• Rambus stock has shown significant growth potential, with recent analyst ratings reflecting a consensus rating of “Buy” and an average target price of $79.38.
• Insider activity includes significant sales by directors, including a transaction where Director Meera Rao sold 3,000 shares for $215,160, indicating potential caution among insiders.

United Services Automobile Association bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,171 shares of the semiconductor company's stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Banque Cantonale Vaudoise acquired a new position in Rambus during the first quarter worth about $25,000. Tsfg LLC acquired a new position in Rambus during the first quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Rambus during the fourth quarter worth about $37,000. Larson Financial Group LLC raised its position in Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in shares of Rambus by 19,360.0% in the first quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock valued at $50,000 after buying an additional 968 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

Shares of RMBS stock opened at $88.58 on Friday. Rambus, Inc. has a one year low of $38.01 and a one year high of $89.98. The company has a 50 day moving average price of $71.42 and a 200 day moving average price of $60.10. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 41.78 and a beta of 1.38.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the sale, the director directly owned 29,914 shares in the company, valued at $2,145,432.08. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the business'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 transaction of $551,475.00. Following the sale, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,686 shares of company stock valued at $933,541. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RMBS. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Susquehanna upped their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Arete Research raised shares of Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. Based on data from MarketBeat, Rambus presently has a consensus rating of "Buy" and an average target price of $79.38.

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.

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