4,490 Shares in Rambus, Inc. $RMBS Purchased by TD Asset Management Inc

TD Asset Management Inc acquired a new position in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,490 shares of the semiconductor company’s stock, valued at approximately $287,000.

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

Rambus Trading Up 7.6%

RMBS stock opened at $101.61 on Friday. Rambus, Inc. has a one year low of $40.12 and a one year high of $109.15. The firm has a market capitalization of $10.93 billion, a PE ratio of 47.93 and a beta of 1.46. The firm has a 50-day moving average of $89.42 and a two-hundred day moving average of $69.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RMBS shares. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Arete raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Arete Research raised shares of Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Two investment 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 company. Based on data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average target price of $96.63.

Insider Activity

In other news, Director Meera Rao sold 653 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the completion of the sale, the director directly owned 29,261 shares of the company’s stock, valued at $2,984,329.39. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Desmond Lynch sold 9,074 shares of the 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 completion of the sale, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at $5,908,231. This trade represents a 12.34% 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 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

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.