Meritage Portfolio Management Boosts Position in Rambus, Inc. $RMBS

Meritage Portfolio Management grew its stake in Rambus, Inc. (NASDAQ:RMBS) by 1.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 41,824 shares of the semiconductor company’s stock after buying an additional 680 shares during the period. Meritage Portfolio Management’s holdings in Rambus were worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Rambus in the first quarter worth about $25,000. Tsfg LLC purchased a new stake in Rambus in the first quarter worth about $26,000. McIlrath & Eck LLC purchased a new stake in Rambus in the first quarter worth about $42,000. Larson Financial Group LLC increased its position in Rambus by 1,260.3% in the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock worth $44,000 after buying an additional 794 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of Rambus by 19,360.0% in the first quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 968 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 9.3%

Shares of Rambus stock opened at $89.57 on Monday. The stock has a 50 day moving average of $85.28 and a 200 day moving average of $66.77. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $109.15. The firm has a market cap of $9.64 billion, a PE ratio of 42.25 and a beta of 1.46.

Insider Transactions at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares in the company, valued at $5,908,231. This represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Meera Rao sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the sale, the director owned 29,914 shares in the company, valued at approximately $2,145,432.08. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,913 shares of company stock valued at $2,474,452 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Thursday, August 28th. Arete Research raised Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Robert W. Baird upped their price objective on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Finally, Wall Street Zen lowered Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $96.63.

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.