Wellington Management Group LLP Has $65.99 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

Wellington Management Group LLP lowered its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 14.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,248,445 shares of the semiconductor company's stock after selling 210,286 shares during the quarter. Wellington Management Group LLP owned about 1.17% of Rambus worth $65,993,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RMBS. Cerity Partners LLC lifted its holdings in shares of Rambus by 69.5% during the third quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company's stock worth $701,000 after buying an additional 6,814 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rambus by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 244,425 shares of the semiconductor company's stock worth $10,320,000 after buying an additional 4,178 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of Rambus by 630.7% during the third quarter. Verition Fund Management LLC now owns 30,888 shares of the semiconductor company's stock worth $1,304,000 after buying an additional 26,661 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Rambus during the third quarter worth $608,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Rambus by 22.6% during the third quarter. HighTower Advisors LLC now owns 233,293 shares of the semiconductor company's stock worth $9,813,000 after buying an additional 42,968 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

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Rambus Trading Down 10.6 %

Rambus stock traded down $5.56 during midday trading on Thursday, reaching $46.73. The company's stock had a trading volume of 176,809 shares, compared to its average volume of 1,306,594. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The business has a 50-day moving average price of $56.66 and a 200-day moving average price of $53.93. The stock has a market cap of $5.02 billion, a PE ratio of 28.41 and a beta of 1.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. StockNews.com cut 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 research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Finally, Robert W. Baird set a $90.00 price target 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Rambus presently has a consensus rating of "Buy" and an average price target of $76.71.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the sale, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at approximately $15,767,667.64. This trade represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $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 have sold a total of 96,952 shares of company stock worth $5,969,155 over the last 90 days. Insiders own 1.00% of the company's stock.

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.