Rambus Inc. (NASDAQ:RMBS) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 48.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,687 shares of the semiconductor company's stock after selling 106,433 shares during the quarter. Balyasny Asset Management L.P. owned about 0.11% of Rambus worth $6,009,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in Rambus by 9.1% during the fourth quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock valued at $13,169,000 after acquiring an additional 20,682 shares during the period. Algert Global LLC raised its holdings in Rambus by 12.8% in the fourth quarter. Algert Global LLC now owns 292,592 shares of the semiconductor company's stock valued at $15,466,000 after buying an additional 33,251 shares during the period. Comerica Bank lifted its position in Rambus by 21.9% during the fourth quarter. Comerica Bank now owns 120,657 shares of the semiconductor company's stock valued at $6,378,000 after buying an additional 21,647 shares in the last quarter. Lido Advisors LLC purchased a new stake in Rambus during the fourth quarter worth approximately $265,000. Finally, Northern Trust Corp increased its position in shares of Rambus by 13.2% in the fourth quarter. Northern Trust Corp now owns 1,463,338 shares of the semiconductor company's stock worth $77,352,000 after acquiring an additional 170,884 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Up 6.1%

Rambus stock traded up $3.09 during midday trading on Monday, hitting $54.11. The stock had a trading volume of 1,533,480 shares, compared to its average volume of 1,294,270. The business has a fifty day moving average price of $50.66 and a 200 day moving average price of $55.12. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15. The stock has a market cap of $5.81 billion, a P/E ratio of 32.60 and a beta of 1.24.

Analyst Ratings Changes

A number of brokerages recently weighed in on RMBS. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price for the company. StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a report on Sunday, May 4th. Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Finally, Susquehanna increased their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rambus presently has an average rating of "Buy" and a consensus price target of $75.00.

Insider Activity

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at approximately $6,383,064.82. This trade represents a 35.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the transaction, 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. In the last ninety days, insiders sold 113,300 shares of company stock worth $6,745,221. 1.00% of the stock is currently owned by insiders.

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.