Brevan Howard Capital Management LP Sells 62,201 Shares of Rambus Inc. (NASDAQ:RMBS)

Brevan Howard Capital Management LP trimmed its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 92.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,907 shares of the semiconductor company's stock after selling 62,201 shares during the quarter. Brevan Howard Capital Management LP's holdings in Rambus were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of Rambus by 9.1% in the 4th quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock worth $13,169,000 after purchasing an additional 20,682 shares during the period. Algert Global LLC lifted its stake 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 boosted its holdings in shares of Rambus by 21.9% during the 4th quarter. Comerica Bank now owns 120,657 shares of the semiconductor company's stock worth $6,378,000 after buying an additional 21,647 shares in the last quarter. Lido Advisors LLC bought a new stake in shares of Rambus in the 4th quarter valued at $265,000. Finally, Northern Trust Corp raised its holdings in shares of Rambus by 13.2% during the fourth quarter. Northern Trust Corp now owns 1,463,338 shares of the semiconductor company's stock valued at $77,352,000 after purchasing an additional 170,884 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ RMBS traded down $0.88 during trading on Thursday, hitting $56.77. The stock had a trading volume of 1,155,202 shares, compared to its average volume of 1,295,061. The firm has a fifty day moving average of $50.80 and a two-hundred day moving average of $55.15. The company has a market capitalization of $6.10 billion, a PE ratio of 34.20 and a beta of 1.24. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Insider Transactions at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This trade represents a 35.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction that occurred on 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 owns 336,844 shares of the company's stock, valued at approximately $15,767,667.64. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,300 shares of company stock worth $6,745,221 in the last 90 days. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RMBS shares. StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a report on Sunday, May 4th. Wells Fargo & Company boosted their price target on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Finally, Susquehanna upped their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $75.00.

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.