ZWJ Investment Counsel Inc. Buys Shares of 4,102 Rambus, Inc. $RMBS

Key Points

• ZWJ Investment Counsel Inc. has acquired 4,102 shares of Rambus, Inc. ($RMBS), valued at approximately $263,000, during the second quarter, reflecting growing interest from institutional investors.
• Analysts are optimistic about Rambus, with multiple upgrades raising price targets significantly, including an upgrade by Robert W. Baird from $90.00 to $120.00 and a recommendation for a "buy" rating by Arete.
• Rambus stock performance shows a 52-week high of $109.15 and a current market cap of $10.76 billion, indicating potential for continued growth amidst strong institutional ownership of 88.54%.

ZWJ Investment Counsel Inc. bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,102 shares of the semiconductor company's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. lifted its stake in shares of Rambus by 0.7% during the 2nd quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company's stock valued at $1,310,000 after buying an additional 150 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Rambus by 14.8% during the 2nd quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company's stock valued at $82,000 after buying an additional 166 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Rambus by 2.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after buying an additional 179 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of Rambus by 3.4% during the 2nd quarter. Dakota Wealth Management now owns 5,681 shares of the semiconductor company's stock valued at $364,000 after buying an additional 189 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Rambus by 3.3% during the 1st 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 in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Susquehanna upped their price target on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Thursday, August 28th. Robert W. Baird upped their price target on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Weiss Ratings restated a "buy (b-)" rating on shares of Rambus in a research note on Saturday, September 27th. Finally, Evercore ISI upped their target price on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company's stock. According to data from MarketBeat, Rambus has an average rating of "Buy" and an average target price of $93.50.

Rambus Stock Performance

RMBS stock opened at $99.99 on Friday. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $109.15. The firm's fifty day moving average is $82.74 and its 200 day moving average is $65.32. The firm has a market cap of $10.76 billion, a P/E ratio of 47.17 and a beta of 1.46.

Insider Buying and Selling at Rambus

In related news, Director Necip Sayiner sold 7,500 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the transaction, the director owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This trade represents a 16.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emiko Higashi sold 1,111 shares of the stock in a transaction on Monday, August 4th. The shares were 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 in the company, valued at approximately $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,913 shares of company stock worth $2,474,452 in the last quarter. 1.00% of the stock is currently owned by company 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.

Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus, Inc. (NASDAQ:RMBS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.