Centiva Capital LP Has $2.33 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

Centiva Capital LP trimmed its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,098 shares of the semiconductor company's stock after selling 39,817 shares during the quarter. Centiva Capital LP's holdings in Rambus were worth $2,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after purchasing an additional 4,445,146 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after buying an additional 2,093,953 shares during the last quarter. Norges Bank bought a new stake in shares of Rambus in the 4th quarter valued at approximately $94,368,000. Raymond James Financial Inc. acquired a new position in Rambus in the fourth quarter worth approximately $51,500,000. Finally, Congress Asset Management Co. bought a new position in Rambus during the fourth quarter valued at approximately $45,778,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,300 shares of company stock worth $6,745,221. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RMBS. StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a report on Sunday. Wells Fargo & Company increased their price objective on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and issued a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Finally, Evercore ISI began 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $75.00.

Rambus Trading Down 1.1 %

NASDAQ:RMBS opened at $50.17 on Wednesday. The stock has a market capitalization of $5.39 billion, a P/E ratio of 30.22 and a beta of 1.24. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The firm has a 50 day moving average of $50.83 and a 200-day moving average of $54.76.

Rambus Company 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.

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