Algert Global LLC Sells 121,296 Shares of Rambus, Inc. $RMBS

Key Points

• Algert Global LLC reduced its stake in Rambus, Inc. by 41.5%, holding 171,296 shares valued at approximately $8.87 million after selling 121,296 shares in the first quarter.
• Rambus shares recently opened at $74.21, with a 52-week high of $78.16 and low of $37.42, while the company's market cap stands at $7.98 billion.
• Analysts have mixed opinions on Rambus, with Wall Street Zen downgrading the stock to a "hold" rating, while others like Rosenblatt Securities and Jefferies Financial Group maintain "buy" ratings with increased price targets.

Algert Global LLC cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 41.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,296 shares of the semiconductor company's stock after selling 121,296 shares during the period. Algert Global LLC owned approximately 0.16% of Rambus worth $8,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMBS. Banque Cantonale Vaudoise acquired a new position in Rambus in the 1st quarter worth $25,000. Tsfg LLC acquired a new position in Rambus in the 1st quarter worth $26,000. Orion Capital Management LLC acquired a new position in shares of Rambus during the 4th quarter worth about $37,000. Larson Financial Group LLC boosted its stake in shares of Rambus by 1,260.3% during the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after buying an additional 794 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after buying an additional 247 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RMBS shares. Rosenblatt Securities increased their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Jefferies Financial Group increased their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Susquehanna increased their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, Rambus has an average rating of "Buy" and a consensus price target of $77.71.

Rambus Stock Up 4.7%

Shares of RMBS stock traded up $3.33 on Friday, reaching $73.77. The stock had a trading volume of 1,005,827 shares, compared to its average volume of 1,056,637. The firm's 50-day moving average is $67.27 and its two-hundred day moving average is $58.97. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 34.80 and a beta of 1.28. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $78.16.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 1,847 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the transaction, the director directly owned 9,057 shares of the company's stock, valued at $499,221.84. This represents a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares in the company, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,533 shares of company stock valued at $820,188 in the last three months. 1.00% of the stock is currently owned by company insiders.

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.