Barclays PLC Sells 298,398 Shares of Rambus Inc. (NASDAQ:RMBS)

Barclays PLC trimmed its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 58.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,259 shares of the semiconductor company's stock after selling 298,398 shares during the period. Barclays PLC owned approximately 0.20% of Rambus worth $9,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Rambus during the second quarter valued at approximately $38,000. Fifth Third Bancorp grew its holdings in shares of Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock valued at $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus in the 2nd quarter worth about $87,000. Finally, GAMMA Investing LLC raised its holdings in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock worth $111,000 after buying an additional 1,769 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Trading Down 5.8 %

NASDAQ:RMBS traded down $3.35 during mid-day trading on Wednesday, hitting $54.83. 1,034,989 shares of the company's stock traded hands, compared to its average volume of 1,483,659. The firm has a 50 day moving average of $51.82 and a two-hundred day moving average of $50.44. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 34.06 and a beta of 1.22. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RMBS shares. Robert W. Baird assumed coverage on shares of Rambus in a report on Monday, November 25th. They set an "outperform" rating and a $90.00 price target on the stock. Baird R W raised Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target for the company. Finally, Loop Capital initiated coverage on shares of Rambus in a research note on Monday, November 11th. They set a "buy" rating and a $70.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rambus has a consensus rating of "Buy" and a consensus price target of $74.67.

Insider Activity at Rambus

In other news, Director Meera Rao sold 5,408 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.