United Services Automobile Association Takes Position 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 purchased a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,171 shares of the semiconductor company's stock, valued at approximately $385,000.

Several other large investors have also recently bought and sold shares of RMBS. Banque Cantonale Vaudoise bought a new position in shares of Rambus during the first quarter worth approximately $25,000. Tsfg LLC bought a new position in Rambus in the first quarter valued at approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Rambus during the fourth quarter worth $37,000. Larson Financial Group LLC grew its stake in shares of 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 buying an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake 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 worth $50,000 after purchasing an additional 968 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares in the company, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Meera Rao sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the director owned 29,914 shares in the company, valued at $2,145,432.08. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,260 shares of company stock worth $2,407,852 in the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Arete Research raised shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Thursday, August 28th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Robert W. Baird upped their target price on shares of Rambus from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Evercore ISI upped their price objective on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $93.50.

Rambus Trading Down 0.3%

Shares of Rambus stock traded down $0.31 on Wednesday, hitting $96.74. 751,891 shares of the company traded hands, compared to its average volume of 1,142,203. The company has a market cap of $10.41 billion, a P/E ratio of 45.69 and a beta of 1.38. The firm's 50-day simple moving average is $73.08 and its 200 day simple moving average is $60.88. Rambus, Inc. has a 12-month low of $38.01 and a 12-month high of $100.73.

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.