Canada Pension Plan Investment Board Cuts Position in Rambus, Inc. $RMBS

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Rambus, Inc. by 40.3% in the first quarter, now owning 140,700 shares worth approximately $7.3 million.
• Corporate insiders sold a total of 9,686 shares of Rambus stock valued at $718,381 in the last 90 days, indicating a potential decrease in insider confidence.
• Analysts have mixed ratings on Rambus, with two rating it as a strong buy while others have placed it on hold, highlighting a consensus price target of $79.38.

Canada Pension Plan Investment Board reduced its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 40.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,700 shares of the semiconductor company's stock after selling 95,000 shares during the period. Canada Pension Plan Investment Board owned 0.13% of Rambus worth $7,285,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Rambus during the first quarter valued at approximately $25,000. Tsfg LLC bought a new position in shares of Rambus in the first quarter worth about $26,000. Orion Capital Management LLC bought a new position in Rambus during the 4th quarter worth about $37,000. Larson Financial Group LLC grew its holdings in 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 acquiring an additional 794 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Rambus by 19,360.0% in the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock valued at $50,000 after buying an additional 968 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Down 0.8%

RMBS traded down $0.59 on Friday, hitting $74.81. The company had a trading volume of 1,353,605 shares, compared to its average volume of 1,112,427. The firm has a market cap of $8.05 billion, a P/E ratio of 35.29 and a beta of 1.38. Rambus, Inc. has a 1 year low of $37.42 and a 1 year high of $81.89. The company's fifty day moving average price is $70.34 and its 200 day moving average price is $59.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RMBS shares. Rosenblatt Securities raised their price target on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Susquehanna raised 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. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a research note on Thursday, August 28th. Arete Research raised shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Jefferies Financial Group lifted their target price 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. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $79.38.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the business's 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 sale, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meera Rao sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total transaction of $215,160.00. Following the sale, the director owned 29,914 shares in the company, valued at $2,145,432.08. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,686 shares of company stock worth $933,541. Company insiders own 1.00% of the company's stock.

Rambus 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.