Y Intercept Hong Kong Ltd Sells 5,803 Shares of Rambus Inc. (NASDAQ:RMBS)

Y Intercept Hong Kong Ltd lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,192 shares of the semiconductor company's stock after selling 5,803 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Rambus were worth $1,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMBS. UMB Bank n.a. raised its holdings in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 455 shares in the last quarter. Quarry LP raised its holdings in Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. GAMMA Investing LLC raised its holdings in Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock worth $166,000 after purchasing an additional 514 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company's stock worth $181,000 after purchasing an additional 1,582 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its holdings in Rambus by 44.6% in the third quarter. MeadowBrook Investment Advisors LLC now owns 4,620 shares of the semiconductor company's stock worth $195,000 after purchasing an additional 1,425 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RMBS. Loop Capital began coverage on Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 price objective for the company. Baird R W upgraded Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company increased their target price 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 increased their target price on Rambus from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, 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. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $76.71.

Rambus Price Performance

Shares of Rambus stock traded up $1.98 during trading on Friday, hitting $55.89. 1,431,301 shares of the company's stock traded hands, compared to its average volume of 1,034,628. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15. The stock has a market capitalization of $5.96 billion, a P/E ratio of 33.67 and a beta of 1.26. The business has a 50-day simple moving average of $59.84 and a 200-day simple moving average of $51.84.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the firm'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 of the company's stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, 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 62,360 shares of company stock valued at $4,182,809 over the last ninety days. Insiders own 1.00% of the company's stock.

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.