Townsquare Capital LLC Invests $2.45 Million in Rambus Inc. (NASDAQ:RMBS)

Townsquare Capital LLC acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 46,390 shares of the semiconductor company's stock, valued at approximately $2,452,000.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after purchasing an additional 520,754 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Rambus in the 3rd quarter worth about $989,000. Campbell Newman Asset Management Inc. increased its stake in shares of Rambus by 72.2% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock worth $2,064,000 after acquiring an additional 16,376 shares in the last quarter. Atria Investments Inc bought a new position in shares of Rambus in the 4th quarter worth about $336,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after acquiring an additional 2,853 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the transaction, the chief executive officer now owns 336,844 shares in the company, valued at approximately $15,767,667.64. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,952 shares of company stock worth $6,447,055. Corporate insiders own 1.00% of the company's stock.

Rambus Trading Down 0.4 %

Shares of RMBS stock traded down $0.20 during trading hours on Friday, hitting $45.72. The company's stock had a trading volume of 739,112 shares, compared to its average volume of 1,306,914. The company has a 50 day moving average of $53.99 and a 200 day moving average of $54.12. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The stock has a market cap of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a report on Friday. Finally, Evercore ISI assumed coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus target price of $76.71.

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.