Rambus, Inc. $RMBS Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has significantly decreased its holdings in Rambus, Inc. by 92.1%, selling 7,574 shares and leaving them with only 648 shares valued at approximately $34,000.
• Institutions hold 88.54% of Rambus's stock, with multiple funds, including Nations Financial Group and Oppenheimer Asset Management, increasing their stakes during the same period.
• Analysts are optimistic about Rambus, with several firms raising their price targets and issuing buy ratings, indicating a consensus rating of "Buy" along with a target price of $79.38.

AlphaQuest LLC reduced its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 92.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 648 shares of the semiconductor company's stock after selling 7,574 shares during the period. AlphaQuest LLC's holdings in Rambus were worth $34,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after acquiring an additional 808 shares in the last quarter. Blair William & Co. IL acquired a new position in Rambus during the 1st quarter worth approximately $235,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Rambus by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 3,711 shares during the last quarter. KBC Group NV increased its holdings in shares of Rambus by 18.9% in the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after acquiring an additional 757 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Rambus by 45.8% in the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after acquiring an additional 1,436 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In other news, Director Emiko Higashi sold 1,075 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director owned 62,296 shares in the company, valued at $4,843,514. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Meera Rao sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total value of $215,160.00. Following the sale, the director owned 29,914 shares of the company's stock, valued at $2,145,432.08. This trade represents a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,686 shares of company stock worth $933,541 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Rambus Stock Performance

Rambus stock traded down $0.59 during mid-day trading on Friday, reaching $74.81. 1,353,605 shares of the company were exchanged, compared to its average volume of 1,112,427. The firm's 50-day simple moving average is $70.34 and its two-hundred day simple moving average is $59.60. Rambus, Inc. has a twelve month low of $37.42 and a twelve month high of $81.89. The firm has a market cap of $8.05 billion, a PE ratio of 35.29 and a beta of 1.38.

Analysts Set New Price Targets

A number of research firms have recently commented on RMBS. Susquehanna increased their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Arete Research upgraded Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Thursday, August 28th. Rosenblatt Securities increased their price objective on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $79.38.

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.