Swedbank AB Cuts Stock Position in Rambus Inc. (NASDAQ:RMBS)

Swedbank AB decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,700,000 shares of the semiconductor company's stock after selling 43,000 shares during the period. Swedbank AB owned approximately 1.60% of Rambus worth $89,862,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. UMB Bank n.a. raised its holdings 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 acquiring an additional 455 shares during the last quarter. Quarry LP bought a new position in shares of Rambus in the second quarter valued at approximately $38,000. GAMMA Investing LLC boosted its position in shares of Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after buying an additional 1,769 shares during the last quarter. Blue Trust Inc. grew its holdings in Rambus by 255.9% during the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company's stock worth $171,000 after buying an additional 2,920 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Rambus by 58.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company's stock valued at $181,000 after buying an additional 1,582 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Rambus Price Performance

Shares of RMBS traded up $1.85 during mid-day trading on Thursday, hitting $61.14. The stock had a trading volume of 316,074 shares, compared to its average volume of 835,581. The firm has a market cap of $6.52 billion, a P/E ratio of 37.89 and a beta of 1.23. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $70.87. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $50.26.

Wall Street Analysts Forecast Growth

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

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.