Bridgewater Associates LP lessened its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 88.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,145 shares of the semiconductor company's stock after selling 54,003 shares during the quarter. Bridgewater Associates LP's holdings in Rambus were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after acquiring an additional 31,645 shares in the last quarter. Invesco Ltd. boosted its holdings in Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after purchasing an additional 68,975 shares in the last quarter. Norges Bank bought a new stake in shares of Rambus in the 4th quarter valued at approximately $94,368,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rambus by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after buying an additional 5,761 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on RMBS shares. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Finally, Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $76.71.
Get Our Latest Stock Analysis on RMBS
Insider Transactions at Rambus
In related news, CEO Luc Seraphin sold 6,348 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the transaction, the chief executive officer now directly owns 319,241 shares of the company's stock, valued at approximately $14,994,749.77. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,300 shares of company stock valued at $6,745,221 over the last 90 days. 1.00% of the stock is owned by corporate insiders.
Rambus Stock Up 7.4 %
Shares of NASDAQ:RMBS traded up $3.42 during mid-day trading on Thursday, reaching $49.36. 1,501,812 shares of the stock were exchanged, compared to its average volume of 1,301,589. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The stock's 50 day simple moving average is $52.91 and its 200-day simple moving average is $54.21. The company has a market cap of $5.30 billion, a P/E ratio of 29.73 and a beta of 1.20.
About Rambus
(
Free Report)
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.
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