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

ZWJ Investment Counsel Inc. purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,102 shares of the semiconductor company’s stock, valued at approximately $263,000.

Several other institutional investors have also added to or reduced their stakes in RMBS. Banque Cantonale Vaudoise purchased a new stake in Rambus during the 1st quarter valued at $25,000. Tsfg LLC purchased a new stake in shares of Rambus in the 1st quarter worth about $26,000. McIlrath & Eck LLC purchased a new stake in shares of Rambus in the 1st quarter worth about $42,000. Larson Financial Group LLC lifted its position in shares of Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 794 shares during the period. Finally, Brooklyn Investment Group lifted its position in shares of Rambus by 19,360.0% in the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 968 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 3.6%

Shares of RMBS stock opened at $99.99 on Friday. The company has a 50 day moving average price of $82.74 and a 200-day moving average price of $65.32. The firm has a market capitalization of $10.76 billion, a PE ratio of 47.17 and a beta of 1.46. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $109.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Arete Research raised shares of Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Susquehanna raised their target price on shares of Rambus from $70.00 to $75.00 and gave the stock 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 research report on Tuesday, July 29th. Finally, Evercore ISI raised their target price on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Rambus has a consensus rating of “Buy” and a consensus price target of $93.50.

Insider Buying and Selling at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares in the company, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the sale, the director owned 30,824 shares of the company’s stock, valued at $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,913 shares of company stock valued at $2,474,452. 1.00% of the stock is owned by corporate insiders.

Rambus Profile

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.