Fifth Third Wealth Advisors LLC Invests $211,000 in Rambus, Inc. $RMBS

Fifth Third Wealth Advisors LLC bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,296 shares of the semiconductor company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Rambus during the 1st quarter worth approximately $25,000. Tsfg LLC acquired a new position in shares of Rambus during the 1st quarter worth approximately $26,000. McIlrath & Eck LLC acquired a new position in shares of Rambus during the 1st quarter worth approximately $42,000. Larson Financial Group LLC boosted its holdings in shares of Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 794 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 968 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMBS. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Susquehanna set a $100.00 price objective on Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Evercore ISI upped their price objective on Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Arete upgraded Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Thursday, August 28th. Finally, Arete Research upgraded Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $96.63.

Insider Activity at Rambus

In related news, Director Meera Rao sold 653 shares of Rambus stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the completion of the sale, the director owned 29,261 shares in the company, valued at approximately $2,984,329.39. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer owned 64,430 shares in the company, valued at approximately $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. Insiders have sold a total of 29,913 shares of company stock worth $2,474,452 over the last quarter. Company insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Rambus stock opened at $94.85 on Wednesday. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $109.15. The firm has a 50 day moving average price of $86.12 and a 200 day moving average price of $67.27. The company has a market capitalization of $10.20 billion, a PE ratio of 44.74 and a beta of 1.46.

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.