M.E. Allison & CO. Inc. Makes New $312,000 Investment in Rambus Inc. (NASDAQ:RMBS)

M.E. Allison & CO. Inc. purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,897 shares of the semiconductor company’s stock, valued at approximately $312,000.

A number of other institutional investors have also modified their holdings of RMBS. Quarry LP bought a new position in Rambus during the 2nd quarter valued at $38,000. GAMMA Investing LLC raised its stake in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 1,769 shares during the period. Blue Trust Inc. grew its holdings in shares of Rambus by 255.9% during the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 2,920 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Rambus by 58.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,582 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC grew its stake in Rambus by 44.6% during the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 4,620 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,425 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 3.8 %

Rambus stock opened at $61.92 on Monday. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 38.46 and a beta of 1.23. The stock’s 50 day moving average is $56.08 and its 200-day moving average is $50.29.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Loop Capital started coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Wells Fargo & Company assumed coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, Robert W. Baird started coverage on Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and an average target price of $74.67.

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.