23,311 Shares in Rambus, Inc. $RMBS Purchased by Aurora Investment Counsel

Aurora Investment Counsel acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 23,311 shares of the semiconductor company’s stock, valued at approximately $1,492,000.

A number of other large investors also recently made changes to their positions in RMBS. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rambus by 60.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after purchasing an additional 3,297,728 shares during the period. EdgePoint Investment Group Inc. acquired a new stake in shares of Rambus during the 1st quarter valued at $60,535,000. Nuveen LLC acquired a new stake in shares of Rambus during the 1st quarter valued at $57,084,000. Assenagon Asset Management S.A. grew its holdings in shares of Rambus by 392.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock valued at $56,438,000 after acquiring an additional 702,704 shares in the last quarter. Finally, Park West Asset Management LLC acquired a new position in shares of Rambus in the first quarter worth $30,503,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Thursday, August 28th. Susquehanna set a $100.00 price target on Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Evercore ISI boosted their price target on Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Rosenblatt Securities lifted their target price on shares of Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Finally, Robert W. Baird boosted their target price on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Rambus currently has an average rating of “Buy” and an average target price of $96.63.

Rambus Stock Up 1.6%

Shares of Rambus stock opened at $97.77 on Tuesday. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $109.15. The stock has a 50 day moving average price of $88.13 and a two-hundred day moving average price of $68.74. The stock has a market capitalization of $10.52 billion, a P/E ratio of 46.12 and a beta of 1.46.

Insider Activity

In related news, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. This trade represents a 12.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Emiko Higashi sold 1,111 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director directly owned 63,371 shares of the company’s stock, valued at approximately $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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.