WCM Investment Management LLC Acquires 28,246 Shares of Rambus, Inc. $RMBS

Key Points

• WCM Investment Management LLC increased its stake in Rambus, Inc. by 7.3% during the second quarter, acquiring an additional 28,246 shares, bringing its total holdings to approximately 416,901 shares worth $26.68 million.
• The stock has seen significant trading activity, with recent insider sales by directors totaling $2.47 million worth of shares, indicating potential shifts in owner confidence.
• Analysts currently have an average rating of "Buy" for Rambus, with a consensus target price of $96.63, reflecting positive expectations for future performance.

WCM Investment Management LLC grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 416,901 shares of the semiconductor company's stock after acquiring an additional 28,246 shares during the quarter. WCM Investment Management LLC owned about 0.39% of Rambus worth $26,682,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rambus by 10.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company's stock valued at $9,472,000 after acquiring an additional 17,282 shares during the last quarter. Park West Asset Management LLC bought a new stake in shares of Rambus during the 1st quarter valued at about $30,503,000. Sequoia Financial Advisors LLC boosted its position in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after acquiring an additional 808 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Rambus during the 1st quarter valued at about $235,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 3,711 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Price Performance

Shares of Rambus stock opened at $97.22 on Thursday. The business's 50 day simple moving average is $86.64 and its two-hundred day simple moving average is $67.47. The stock has a market capitalization of $10.46 billion, a P/E ratio of 45.86 and a beta of 1.46. Rambus, Inc. has a one year low of $40.12 and a one year high of $109.15.

Analysts Set New Price Targets

RMBS has been the subject of a number of research analyst reports. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Arete Research upgraded Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Jefferies Financial Group boosted their target price on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird boosted their target price on Rambus from $90.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Rambus currently has an average rating of "Buy" and a consensus target price of $96.63.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total value of $215,160.00. Following the transaction, the director directly owned 29,914 shares of the company's stock, valued at $2,145,432.08. The trade was a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 7,500 shares of Rambus 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 directly owned 38,324 shares in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,913 shares of company stock valued at $2,474,452 over the last quarter. Company insiders own 1.00% of the company's stock.

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.

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