Legal & General Group Plc Decreases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Legal & General Group Plc decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,836 shares of the semiconductor company's stock after selling 5,841 shares during the quarter. Legal & General Group Plc owned 0.22% of Rambus worth $12,361,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RMBS. Geode Capital Management LLC grew its stake in Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock worth $110,693,000 after buying an additional 21,053 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Rambus during the 3rd quarter worth $407,000. Sanctuary Advisors LLC grew its position in Rambus by 30.2% in the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company's stock worth $223,000 after acquiring an additional 1,228 shares in the last quarter. World Investment Advisors LLC bought a new position in Rambus in the third quarter valued at $989,000. Finally, Franklin Resources Inc. raised its position in Rambus by 7.2% during the third quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company's stock valued at $18,612,000 after purchasing an additional 27,764 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Down 0.4 %

Shares of RMBS traded down $0.20 during mid-day trading on Friday, hitting $45.72. 739,112 shares of the company's stock traded hands, compared to its average volume of 1,305,734. The firm has a market capitalization of $4.91 billion, a P/E ratio of 27.54 and a beta of 1.20. The business's 50-day moving average price is $53.99 and its 200-day moving average price is $54.12. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of research reports. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a research note on Friday. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Rosenblatt Securities lifted their price objective on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Susquehanna increased their target price on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Rambus currently has an average rating of "Buy" and an average price target of $76.71.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the business'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 completion of the transaction, the chief operating officer now directly owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,952 shares of company stock worth $6,447,055 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.