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

FMR LLC decreased its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 91.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,730 shares of the semiconductor company's stock after selling 667,598 shares during the period. FMR LLC owned about 0.06% of Rambus worth $2,648,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RMBS. Quarry LP purchased a new position in shares of Rambus in the second quarter worth about $38,000. Fifth Third Bancorp grew its holdings in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the second quarter worth $87,000. Finally, GAMMA Investing LLC raised its holdings in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after buying an additional 1,769 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

RMBS has been the topic of several recent analyst reports. Wells Fargo & Company assumed coverage on Rambus in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 target price on the stock. Loop Capital initiated coverage on Rambus in a research report on Monday, November 11th. They issued a "buy" rating and a $70.00 price objective on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They issued an "outperform" rating and a $90.00 price objective for the company. Finally, Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $74.67.

Rambus Stock Down 1.2 %

Shares of RMBS stock traded down $0.69 during trading hours on Friday, hitting $57.41. 1,238,606 shares of the company's stock traded hands, compared to its average volume of 728,372. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 35.66 and a beta of 1.22. The stock's fifty day simple moving average is $51.12 and its two-hundred day simple moving average is $50.42. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

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.