Neuberger Berman Group LLC Cuts Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Neuberger Berman Group LLC lowered its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,658,364 shares of the semiconductor company's stock after selling 88,899 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.56% of Rambus worth $87,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its stake in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after purchasing an additional 264 shares in the last quarter. State Street Corp lifted its stake in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after purchasing an additional 164,830 shares during the last quarter. XTX Topco Ltd purchased a new stake in Rambus during the third quarter valued at about $745,000. Y Intercept Hong Kong Ltd grew its stake in shares of Rambus by 14.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 37,995 shares of the semiconductor company's stock valued at $1,604,000 after buying an additional 4,734 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Rambus by 33.6% in the third quarter. Public Employees Retirement System of Ohio now owns 172,534 shares of the semiconductor company's stock worth $7,284,000 after buying an additional 43,351 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Remove Ads

Rambus Trading Up 0.2 %

Shares of RMBS stock traded up $0.10 during midday trading on Tuesday, reaching $47.34. 197,810 shares of the stock were exchanged, compared to its average volume of 1,305,792. The firm has a market cap of $5.09 billion, a PE ratio of 28.52 and a beta of 1.20. The company's 50 day moving average is $55.62 and its two-hundred day moving average is $54.16. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target for the company. Rosenblatt Securities raised their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Rambus presently has a consensus 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 the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,952 shares of company stock valued at $5,969,155 over the last ninety days. Company insiders own 1.00% of the company's stock.

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.