Rambus Inc. (NASDAQ:RMBS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,095,974 shares of the semiconductor company's stock after selling 67,225 shares during the quarter. Bank of New York Mellon Corp owned about 1.97% of Rambus worth $110,793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Congress Asset Management Co. acquired a new stake in shares of Rambus during the 4th quarter worth approximately $45,778,000. SG Americas Securities LLC grew its holdings in shares of Rambus by 1,657.4% during the 4th 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. Point72 Hong Kong Ltd acquired a new stake in shares of Rambus during the 3rd quarter worth about $18,984,000. Vaughan Nelson Investment Management L.P. raised its holdings in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after buying an additional 357,160 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in Rambus by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company's stock valued at $38,092,000 after buying an additional 356,496 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded up $0.65 on Wednesday, hitting $53.95. 564,291 shares of the company's stock were exchanged, compared to its average volume of 1,011,447. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $69.15. The company has a market capitalization of $5.76 billion, a PE ratio of 32.50 and a beta of 1.26. The firm's 50-day moving average is $59.80 and its 200 day moving average is $52.06.

Insider Activity at Rambus

In other Rambus news, 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 transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meera Rao sold 5,408 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company's stock, valued at $1,693,619.80. The trade was a 15.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,360 shares of company stock valued at $4,182,809 over the last three months. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RMBS has been the subject of a number of recent analyst reports. StockNews.com cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Rosenblatt Securities raised their price target on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, Baird R W raised Rambus to a "strong-buy" rating in a research note on Monday, November 25th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target 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.