Sciencast Management LP Sells 42,197 Shares of Rambus Inc. (NASDAQ:RMBS)

Sciencast Management LP trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 89.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,939 shares of the semiconductor company's stock after selling 42,197 shares during the quarter. Sciencast Management LP's holdings in Rambus were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RMBS. UMB Bank n.a. increased its stake in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after buying an additional 640 shares during the period. Quarry LP raised its stake in shares of Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after buying an additional 264 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after buying an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after acquiring an additional 166 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

RMBS has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Evercore ISI began coverage on Rambus in a report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. Wells Fargo & Company upped their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Rosenblatt Securities lifted their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Susquehanna upped their price target 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and a consensus target price of $76.71.

Insider Buying and Selling

In other news, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the transaction, the chief executive officer now owns 306,931 shares of the company's stock, valued at approximately $17,998,433.84. The trade was a 3.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,952 shares of company stock worth $4,992,255. Corporate insiders own 1.00% of the company's stock.

Rambus Price Performance

Shares of NASDAQ RMBS traded down $1.20 during midday trading on Thursday, reaching $55.44. 506,249 shares of the stock traded hands, compared to its average volume of 1,258,641. The company's 50 day moving average is $59.62 and its 200 day moving average is $53.21. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The stock has a market capitalization of $5.96 billion, a PE ratio of 33.40 and a beta of 1.25.

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.