Wesbanco Bank Inc. Increases Position in Rambus, Inc. $RMBS

Key Points

• Wesbanco Bank Inc. increased its investment in Rambus, Inc. by 154.8% during the second quarter, acquiring a total of 27,984 shares valued at approximately $1.79 million.
• Several research firms have given Rambus a strong-buy rating, with price targets raised, indicating robust confidence in the stock's future performance.
• Rambus shares have shown a strong performance, opening at $86.03, with a one-year high of $89.98 and a market cap of $9.26 billion.

Wesbanco Bank Inc. increased its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 154.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,984 shares of the semiconductor company's stock after buying an additional 17,000 shares during the period. Wesbanco Bank Inc.'s holdings in Rambus were worth $1,792,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RMBS. Nations Financial Group Inc. IA ADV boosted its stake in Rambus by 2.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock worth $471,000 after purchasing an additional 179 shares during the period. Evergreen Capital Management LLC raised its position in shares of Rambus by 3.3% during the first quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company's stock valued at $380,000 after buying an additional 234 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Rambus by 4.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock worth $298,000 after buying an additional 266 shares in the last quarter. Xponance Inc. boosted its position in shares of Rambus by 1.8% during the first quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock worth $803,000 after acquiring an additional 280 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RMBS. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Rosenblatt Securities upped their price target on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Susquehanna upped their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Jefferies Financial Group raised their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus price target of $79.38.

Rambus Price Performance

Shares of RMBS stock opened at $86.03 on Monday. The stock's 50-day moving average is $71.82 and its 200 day moving average is $60.35. Rambus, Inc. has a 1-year low of $38.01 and a 1-year high of $89.98. The company has a market cap of $9.26 billion, a P/E ratio of 40.58 and a beta of 1.38.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director directly owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Meera Rao sold 3,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were 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 in the company, valued at $2,145,432.08. This represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,186 shares of company stock valued at $1,575,766. 1.00% of the stock is currently owned by insiders.

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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