Portside Wealth Group LLC Purchases 4,268 Shares of Rambus Inc. (NASDAQ:RMBS)

Portside Wealth Group LLC increased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 91.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,924 shares of the semiconductor company’s stock after acquiring an additional 4,268 shares during the quarter. Portside Wealth Group LLC’s holdings in Rambus were worth $462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of RMBS. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rambus by 448.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 3,245 shares during the last quarter. Choreo LLC raised its holdings in Rambus by 10.2% during the 4th quarter. Choreo LLC now owns 11,837 shares of the semiconductor company’s stock worth $634,000 after buying an additional 1,094 shares during the period. Empowered Funds LLC raised its holdings in Rambus by 160.3% during the 4th quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company’s stock worth $897,000 after buying an additional 10,450 shares during the period. Equitable Trust Co. acquired a new stake in Rambus during the 4th quarter worth approximately $305,000. Finally, Van ECK Associates Corp raised its holdings in Rambus by 30.4% during the 4th quarter. Van ECK Associates Corp now owns 106,164 shares of the semiconductor company’s stock worth $5,612,000 after buying an additional 24,723 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares in the company, valued at $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Laub sold 1,847 shares of Rambus stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the sale, the director now owns 9,057 shares in the company, valued at $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,848 shares of company stock worth $3,182,033 over the last ninety days. Insiders own 1.00% of the company’s stock.

Rambus Stock Up 1.1%

NASDAQ RMBS opened at $59.70 on Wednesday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The company has a market capitalization of $6.41 billion, a PE ratio of 35.96 and a beta of 1.20. The firm’s 50 day moving average is $51.14 and its 200-day moving average is $55.58.

Wall Street Analyst Weigh In

RMBS has been the topic of several research analyst reports. Rosenblatt Securities restated 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 report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus has a consensus rating of “Buy” and an average price target of $75.00.

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.