Rambus, Inc. (NASDAQ:RMBS) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,784,251 shares of the semiconductor company's stock after selling 311,723 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.66% of Rambus worth $92,380,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Tsfg LLC acquired a new position in shares of Rambus in the first quarter worth about $26,000. Orion Capital Management LLC acquired a new position in shares of Rambus in the fourth quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ raised its stake in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock valued at $38,000 after buying an additional 640 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after purchasing an additional 891 shares during the period. Finally, Quarry LP raised its position 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 purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Buying and Selling

In related news, Director Steven Laub sold 3,653 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares of the company's stock, valued at $605,826.24. This represents a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total value of $477,900.00. Following the completion of the transaction, the chief executive officer directly owned 326,844 shares of the company's stock, valued at $15,619,874.76. This trade represents a 2.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,848 shares of company stock valued at $1,080,833 over the last three months. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus presently has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Price Performance

RMBS stock traded down $0.54 on Friday, reaching $64.06. The company's stock had a trading volume of 478,518 shares, compared to its average volume of 1,240,472. Rambus, Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The company has a market capitalization of $6.88 billion, a P/E ratio of 33.36 and a beta of 1.24. The firm has a fifty day moving average of $58.42 and a two-hundred day moving average of $56.48.

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.