Fox Run Management L.L.C. Invests $1.03 Million in Rambus, Inc. $RMBS

Fox Run Management L.L.C. purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, Holdings Channel reports. The fund purchased 16,033 shares of the semiconductor company’s stock, valued at approximately $1,026,000.

A number of other hedge funds also recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD lifted its position in Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after acquiring an additional 3,297,728 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rambus by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock worth $129,289,000 after purchasing an additional 235,253 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Rambus by 21.1% during the first quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company’s stock valued at $73,747,000 after purchasing an additional 248,013 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Rambus by 6.4% during the second quarter. Congress Asset Management Co. now owns 1,276,926 shares of the semiconductor company’s stock valued at $81,749,000 after buying an additional 77,362 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rambus by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company’s stock valued at $65,047,000 after buying an additional 6,600 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of Rambus stock opened at $107.67 on Friday. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $114.55. The company’s fifty day simple moving average is $96.65 and its 200-day simple moving average is $74.46. The stock has a market capitalization of $11.59 billion, a PE ratio of 51.03 and a beta of 1.47.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Thursday, August 28th. Evercore ISI lifted their price target on shares of Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Arete Research upgraded shares of Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings upgraded shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Buy” and an average price target of $103.38.

Insider Buying and Selling

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $85.63, for a total transaction of $642,225.00. Following the completion of the sale, the director owned 30,824 shares of the company’s stock, valued at approximately $2,639,459.12. The trade was a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Emiko Higashi sold 1,075 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the completion of the sale, the director owned 62,296 shares of the company’s stock, valued at approximately $4,843,514. The trade was a 1.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,302 shares of company stock valued at $1,839,652 over the last three months. 1.00% of the stock is currently owned by company insiders.

Rambus Company 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.