Wealth Enhancement Advisory Services LLC Takes $232,000 Position in Rambus, Inc. (NASDAQ:RMBS)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,390 shares of the semiconductor company's stock, valued at approximately $232,000.

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

Insiders Place Their Bets

In related news, Director Steven Laub sold 1,847 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the transaction, the director now directly owns 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of Rambus 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 completion of the sale, the chief executive officer now directly owns 346,844 shares of the company's stock, valued at approximately $17,647,422.72. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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 analysts have recently issued reports on the company. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $75.00.

Rambus Price Performance

NASDAQ:RMBS traded down $1.35 during trading hours on Friday, hitting $59.20. The company's stock had a trading volume of 490,730 shares, compared to its average volume of 1,261,503. Rambus, Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a fifty day simple moving average of $53.34 and a 200-day simple moving average of $55.74. The company has a market capitalization of $6.36 billion, a P/E ratio of 30.82 and a beta of 1.20.

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.