AlphaQuest LLC Trims Stock Position in Rambus Inc. (NASDAQ:RMBS)

AlphaQuest LLC cut its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 71.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,222 shares of the semiconductor company's stock after selling 20,393 shares during the quarter. AlphaQuest LLC's holdings in Rambus were worth $435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amundi bought a new position in Rambus in the fourth quarter worth about $1,163,000. PNC Financial Services Group Inc. boosted its position in Rambus by 71.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,284 shares of the semiconductor company's stock valued at $861,000 after acquiring an additional 6,781 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Rambus by 7.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company's stock worth $252,000 after acquiring an additional 317 shares during the period. Lindbrook Capital LLC raised its position in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 166 shares in the last quarter. Finally, Inceptionr LLC bought a new position in shares of Rambus in the 4th quarter worth about $1,499,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RMBS. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. StockNews.com cut shares of Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Baird R W raised Rambus to a "strong-buy" rating in a report on Monday, November 25th. Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rambus currently has an average rating of "Buy" and an average price target of $76.71.

Remove Ads

Insider Activity

In other news, Director Necip Sayiner sold 4,625 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares in the company, valued at approximately $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The transaction 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 Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Rambus Trading Down 1.1 %

Rambus stock opened at $51.95 on Friday. The firm has a market capitalization of $5.55 billion, a PE ratio of 31.30 and a beta of 1.25. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The firm has a 50-day moving average price of $59.67 and a 200-day moving average price of $52.27.

About Rambus

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.

Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.