GAMMA Investing LLC Buys 514 Shares of Rambus Inc. (NASDAQ:RMBS)

GAMMA Investing LLC lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,137 shares of the semiconductor company’s stock after purchasing an additional 514 shares during the quarter. GAMMA Investing LLC’s holdings in Rambus were worth $166,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Rambus by 7.2% during the third quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company’s stock valued at $18,612,000 after buying an additional 27,764 shares during the period. World Investment Advisors LLC bought a new stake in Rambus during the 3rd quarter worth approximately $989,000. Sanctuary Advisors LLC lifted its stake in Rambus by 30.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 1,228 shares in the last quarter. Virtu Financial LLC bought a new position in Rambus in the 3rd quarter valued at $407,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Rambus by 6.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 63,922 shares of the semiconductor company’s stock valued at $2,699,000 after purchasing an additional 3,775 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RMBS. Robert W. Baird initiated coverage on Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Baird R W upgraded Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company started coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price target for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $74.67.

Insiders Place Their Bets

In other news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Rambus Price Performance

NASDAQ:RMBS opened at $57.08 on Thursday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 35.45 and a beta of 1.23. The business has a 50 day moving average of $55.10 and a 200 day moving average of $50.25. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

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.