Redhawk Wealth Advisors Inc. Makes New $1.23 Million Investment in Rambus, Inc. $RMBS

Redhawk Wealth Advisors Inc. purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the second quarter, HoldingsChannel reports. The institutional investor purchased 9,237 shares of the semiconductor company’s stock, valued at approximately $1,226,000.

Several other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in shares of Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after buying an additional 9,375 shares during the period. Empowered Funds LLC grew its holdings in Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after acquiring an additional 19,120 shares during the period. Acadian Asset Management LLC acquired a new position in Rambus during the first quarter worth about $218,000. Finally, Quantbot Technologies LP bought a new stake in Rambus in the second quarter worth about $102,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Rambus news, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director directly owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the sale, the director directly owned 19,218 shares in the company, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 62,914 shares of company stock worth $9,724,775. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group increased their target price on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Price Performance

Rambus stock opened at $96.42 on Wednesday. The firm’s 50 day simple moving average is $116.95 and its 200-day simple moving average is $113.78. The company has a market cap of $10.46 billion, a P/E ratio of 44.23 and a beta of 1.88. Rambus, Inc. has a fifty-two week low of $67.15 and a fifty-two week high of $174.10.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.