Linden Thomas Advisory Services LLC Has $1.70 Million Stock Holdings in Rambus, Inc. $RMBS

Linden Thomas Advisory Services LLC trimmed its position in Rambus, Inc. (NASDAQ:RMBS) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,558 shares of the semiconductor company’s stock after selling 288 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Rambus were worth $1,700,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State of New Jersey Common Pension Fund D raised its position in shares of Rambus by 1.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 34,546 shares of the semiconductor company’s stock valued at $2,212,000 after acquiring an additional 559 shares during the period. AlphaQuest LLC raised its position in shares of Rambus by 3,303.9% in the 2nd quarter. AlphaQuest LLC now owns 22,057 shares of the semiconductor company’s stock valued at $1,412,000 after acquiring an additional 21,409 shares during the period. First Citizens Bank & Trust Co. raised its position in shares of Rambus by 250.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after acquiring an additional 9,718 shares during the period. Ethic Inc. acquired a new stake in shares of Rambus in the 2nd quarter valued at approximately $258,000. Finally, Stephens Investment Management Group LLC raised its position in shares of Rambus by 0.8% in the 2nd quarter. Stephens Investment Management Group LLC now owns 195,123 shares of the semiconductor company’s stock valued at $12,492,000 after acquiring an additional 1,462 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Desmond Lynch sold 9,074 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. This trade represents a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares of the company’s stock, valued at $2,817,963.72. This represents a 16.37% 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 three months. Corporate insiders own 1.00% of the company’s stock.

Rambus Trading Up 3.7%

NASDAQ:RMBS opened at $105.42 on Friday. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $109.15. The firm has a fifty day simple moving average of $90.04 and a 200 day simple moving average of $70.13. The stock has a market capitalization of $11.34 billion, a PE ratio of 49.73 and a beta of 1.46.

Analyst Ratings Changes

RMBS has been the topic of a number of analyst reports. Arete upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Thursday, August 28th. Susquehanna set a $100.00 target price on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Rosenblatt Securities increased their target price on Rambus from $90.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Jefferies Financial Group increased their target price on Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Arete Research raised Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $96.63.

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.