Mesirow Institutional Investment Management Inc. Sells 101,445 Shares of Rambus Inc. (NASDAQ:RMBS)

Mesirow Institutional Investment Management Inc. decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 25.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 298,174 shares of the semiconductor company's stock after selling 101,445 shares during the period. Rambus makes up 1.2% of Mesirow Institutional Investment Management Inc.'s holdings, making the stock its 26th largest position. Mesirow Institutional Investment Management Inc. owned 0.28% of Rambus worth $15,761,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Natixis raised its stake in Rambus by 11.9% during the 4th quarter. Natixis now owns 24,500 shares of the semiconductor company's stock worth $1,295,000 after buying an additional 2,600 shares during the period. MetLife Investment Management LLC lifted its position in Rambus by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 122,295 shares of the semiconductor company's stock worth $6,465,000 after buying an additional 5,761 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in Rambus during the fourth quarter worth about $459,000. GeoWealth Management LLC acquired a new position in Rambus during the fourth quarter valued at approximately $68,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Rambus during the 4th quarter worth approximately $12,459,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities boosted their price target on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $76.71.

Rambus Stock Up 2.4 %

RMBS traded up $1.19 during midday trading on Friday, hitting $50.55. The company had a trading volume of 434,444 shares, compared to its average volume of 1,007,225. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15. The stock's 50 day moving average price is $52.63 and its 200 day moving average price is $54.26. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 30.43 and a beta of 1.20.

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company's stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,300 shares of company stock worth $6,745,221. Insiders own 1.00% of the company's stock.

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.