Guggenheim Capital LLC Sells 21,239 Shares of Rambus Inc. (NASDAQ:RMBS)

Guggenheim Capital LLC trimmed its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 51.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,737 shares of the semiconductor company's stock after selling 21,239 shares during the period. Guggenheim Capital LLC's holdings in Rambus were worth $1,043,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of RMBS. Virtu Financial LLC purchased a new position in shares of Rambus during the 3rd quarter worth approximately $407,000. Sanctuary Advisors LLC lifted its position in Rambus by 30.2% during the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company's stock valued at $223,000 after buying an additional 1,228 shares during the period. World Investment Advisors LLC bought a new stake in shares of Rambus during the 3rd quarter valued at $989,000. Franklin Resources Inc. lifted its position in Rambus by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company's stock valued at $18,612,000 after acquiring an additional 27,764 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock worth $166,000 after purchasing an additional 514 shares during the period. Institutional investors own 88.54% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on RMBS shares. StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Rosenblatt Securities increased their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price target on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $76.71.

Insider Activity at Rambus

In other 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 value of $3,559,282.54. Following the transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the transaction, the chief executive officer now owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,300 shares of company stock worth $6,745,221. Corporate insiders own 1.00% of the company's stock.

Rambus Stock Performance

Shares of Rambus stock traded up $1.58 on Friday, hitting $50.94. 942,524 shares of the company's stock were exchanged, compared to its average volume of 1,299,843. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The company has a 50-day simple moving average of $52.63 and a 200-day simple moving average of $54.26. The stock has a market capitalization of $5.47 billion, a PE ratio of 30.69 and a beta of 1.20.

About Rambus

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.