Rambus Inc. (NASDAQ:RMBS) Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 41.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,392 shares of the semiconductor company's stock after selling 10,100 shares during the period. Fox Run Management L.L.C.'s holdings in Rambus were worth $761,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Rambus in the fourth quarter worth $51,500,000. Congress Asset Management Co. purchased a new stake in Rambus in the fourth quarter valued at $45,778,000. SG Americas Securities LLC raised its stake 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 valued at $29,188,000 after buying an additional 520,754 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Rambus during the third quarter worth about $18,984,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Rambus by 65.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company's stock worth $38,092,000 after purchasing an additional 356,496 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RMBS shares. Susquehanna increased their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Rosenblatt Securities raised their price target 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. Finally, Wells Fargo & Company increased their target price on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One equities research 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, Rambus currently has a consensus rating of "Buy" and an average target price of $76.71.

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Insider Activity

In other Rambus news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 represents a 9.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,952 shares of company stock valued at $4,405,855. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 5.1 %

RMBS traded down $3.03 during mid-day trading on Wednesday, hitting $55.91. 334,831 shares of the stock were exchanged, compared to its average volume of 956,626. The firm's fifty day moving average is $59.66 and its two-hundred day moving average is $53.18. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $69.15. The company has a market cap of $6.01 billion, a PE ratio of 33.74 and a beta of 1.25.

Rambus Company 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.