Magnetar Financial LLC Has $240,000 Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Magnetar Financial LLC cut its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 52.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,535 shares of the semiconductor company's stock after selling 5,042 shares during the period. Magnetar Financial LLC's holdings in Rambus were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of Rambus by 1,657.4% in 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 in the last quarter. World Investment Advisors LLC bought a new stake in shares of Rambus in the third quarter worth about $989,000. Campbell Newman Asset Management Inc. raised its position in shares of Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock worth $2,064,000 after purchasing an additional 16,376 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Rambus during the 3rd quarter valued at about $2,077,000. Finally, FORA Capital LLC grew its position in shares of Rambus by 63.7% in the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock valued at $1,701,000 after purchasing an additional 15,671 shares during the period. Institutional investors own 88.54% of the company's stock.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares in the company, 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 have sold a total of 66,952 shares of company stock valued at $4,405,855 over the last 90 days. 1.00% of the stock is currently owned by insiders.

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Analyst Ratings Changes

Several brokerages have commented on RMBS. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Baird R W raised shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their target price on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $76.71.

Rambus Stock Performance

RMBS traded up $0.02 during trading on Tuesday, reaching $58.89. 294,101 shares of the stock were exchanged, compared to its average volume of 1,266,742. The stock's 50 day moving average price is $59.62 and its two-hundred day moving average price is $53.04. The stock has a market cap of $6.33 billion, a P/E ratio of 35.47 and a beta of 1.25. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

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.