Tealwood Asset Management Inc. Raises Stock Position in Rambus, Inc. $RMBS

Tealwood Asset Management Inc. grew its holdings in Rambus, Inc. (NASDAQ:RMBS) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,460 shares of the semiconductor company’s stock after acquiring an additional 150 shares during the period. Tealwood Asset Management Inc.’s holdings in Rambus were worth $1,310,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RMBS. Price T Rowe Associates Inc. MD raised its stake in shares of 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 during the period. EdgePoint Investment Group Inc. purchased a new stake in Rambus during the 1st quarter worth $60,535,000. Nuveen LLC purchased a new stake in Rambus during the 1st quarter worth $57,084,000. Assenagon Asset Management S.A. increased its stake in Rambus by 392.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock worth $56,438,000 after buying an additional 702,704 shares during the period. Finally, Park West Asset Management LLC purchased a new stake in Rambus during the 1st quarter worth $30,503,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the completion of the transaction, the director directly owned 29,914 shares of the company’s stock, valued at approximately $2,145,432.08. The trade was a 9.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 29,260 shares of company stock valued at $2,407,852. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Performance

RMBS opened at $103.99 on Tuesday. The company has a 50-day moving average of $79.71 and a 200-day moving average of $64.06. The company has a market capitalization of $11.19 billion, a P/E ratio of 49.05 and a beta of 1.38. Rambus, Inc. has a 1-year low of $39.56 and a 1-year high of $109.15.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RMBS. Robert W. Baird lifted their price target on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Rosenblatt Securities lifted their price target on shares of Rambus from $90.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Evercore ISI lifted their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Jefferies Financial Group lifted their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Susquehanna lifted their price target on shares of Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $93.50.

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.