Corebridge Financial Inc. Has $9.14 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

Corebridge Financial Inc. decreased its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,977 shares of the semiconductor company's stock after selling 11,764 shares during the period. Corebridge Financial Inc. owned 0.16% of Rambus worth $9,144,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its position in shares of Rambus by 4.3% during the third quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock worth $361,000 after purchasing an additional 350 shares in the last quarter. Cerity Partners LLC raised its position in Rambus by 69.5% in the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company's stock worth $701,000 after purchasing an additional 6,814 shares during the last quarter. Quantbot Technologies LP acquired a new position in Rambus during the 3rd quarter worth $1,252,000. Bridgewater Associates LP boosted its position in Rambus by 1,150.7% in the 3rd quarter. Bridgewater Associates LP now owns 61,148 shares of the semiconductor company's stock valued at $2,582,000 after buying an additional 56,259 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in Rambus by 32.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 311,910 shares of the semiconductor company's stock valued at $13,169,000 after buying an additional 75,908 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

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Rambus Stock Up 1.0 %

NASDAQ RMBS traded up $0.51 during trading on Tuesday, reaching $52.29. 976,513 shares of the stock traded hands, compared to its average volume of 1,297,690. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 31.50 and a beta of 1.25. The stock's 50-day moving average price is $58.95 and its 200 day moving average price is $53.68.

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now owns 306,931 shares of the company's stock, valued at $17,998,433.84. This trade represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at $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. Insiders sold a total of 76,952 shares of company stock worth $4,992,255 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. StockNews.com cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities raised their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. One 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, Rambus presently has a consensus rating of "Buy" and a consensus 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.