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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after acquiring an additional 164,830 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rambus by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock worth $110,693,000 after purchasing an additional 21,053 shares in the last quarter. Swedbank AB increased its holdings in shares of Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock worth $73,589,000 after buying an additional 193,150 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after acquiring an additional 5,761 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Rambus during the 4th quarter valued at about $51,500,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently commented on RMBS. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities increased 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. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rambus currently has an average rating of "Buy" and an average price target of $76.71.

Rambus Trading Down 3.9 %

Rambus stock traded down $2.30 during trading hours on Wednesday, hitting $56.64. 712,455 shares of the stock traded hands, compared to its average volume of 1,261,694. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The firm's 50-day moving average price is $59.62 and its two-hundred day moving average price is $53.21. The company has a market cap of $6.09 billion, a PE ratio of 34.12 and a beta of 1.25.

Insider Activity

In other news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at $17,998,433.84. This represents a 3.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $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 sold a total of 76,952 shares of company stock worth $4,992,255 in the last quarter. 1.00% of the stock is owned by company 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.