Wealth Enhancement Advisory Services LLC Acquires Shares of 4,390 Rambus, Inc. (NASDAQ:RMBS)

Wealth Enhancement Advisory Services LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,390 shares of the semiconductor company's stock, valued at approximately $232,000.

A number of other hedge funds have also added to or reduced their stakes in RMBS. Orion Capital Management LLC bought a new stake in Rambus during the fourth quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after buying an additional 640 shares during the last quarter. Farther Finance Advisors LLC increased its position in Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after buying an additional 891 shares in the last quarter. Quarry LP increased its position in Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after buying an additional 247 shares in the last quarter. Finally, GeoWealth Management LLC bought a new stake in Rambus in the fourth quarter worth $68,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Steven Laub sold 1,847 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the transaction, the director now directly owns 9,057 shares in the company, valued at $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the sale, the chief executive officer now owns 346,844 shares in the company, valued at $17,647,422.72. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,848 shares of company stock worth $2,644,133. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMBS. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Rosenblatt Securities restated a "buy" rating and issued a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $75.00.

Rambus Price Performance

Shares of RMBS traded up $1.07 on Wednesday, reaching $61.01. The company's stock had a trading volume of 46,573 shares, compared to its average volume of 1,261,898. The stock's 50 day simple moving average is $52.89 and its two-hundred day simple moving average is $55.70. The stock has a market capitalization of $6.55 billion, a P/E ratio of 31.75 and a beta of 1.20. Rambus, Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

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.