Trexquant Investment LP lowered its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 70.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,707 shares of the semiconductor company's stock after selling 216,882 shares during the quarter. Trexquant Investment LP owned approximately 0.09% of Rambus worth $4,900,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after buying an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after buying an additional 640 shares during the last quarter. Quarry LP grew 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 buying an additional 264 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after buying an additional 891 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RMBS. Evercore ISI assumed coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective for the company. Rosenblatt Securities boosted their target price on 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 target price on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $76.71.
View Our Latest Analysis on RMBS
Rambus Stock Performance
Shares of RMBS stock traded down $6.48 during trading hours on Thursday, hitting $45.81. The company had a trading volume of 284,603 shares, compared to its average volume of 1,306,977. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The firm's fifty day moving average is $56.66 and its 200 day moving average is $53.93. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 27.75 and a beta of 1.20.
Insider Buying and Selling at Rambus
In other news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares of the company's stock, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now owns 316,931 shares of the company's stock, valued at $17,047,718.49. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,952 shares of company stock worth $5,969,155 over the last three months. Company insiders own 1.00% of the company's stock.
Rambus Company Profile
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Free Report)
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.
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