Man Group plc Has $1.62 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Man Group plc lowered its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 32.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,707 shares of the semiconductor company's stock after selling 14,600 shares during the quarter. Man Group plc's holdings in Rambus were worth $1,623,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after acquiring an additional 891 shares during the period. Quarry LP lifted its position in shares of Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after acquiring an additional 247 shares during the period. Finally, GeoWealth Management LLC bought a new stake in shares of Rambus in the 4th quarter worth approximately $68,000. Institutional investors own 88.54% of the company's stock.

Rambus Stock Performance

Rambus stock traded up $0.32 on Thursday, reaching $54.55. The company's stock had a trading volume of 154,504 shares, compared to its average volume of 1,279,231. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 32.83 and a beta of 1.24. The business's fifty day moving average price is $50.96 and its 200 day moving average price is $55.43. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

Insiders Place Their Bets

In other Rambus news, Director Steven Laub sold 3,653 shares of the business's stock in a transaction 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 transaction, the director now owns 10,904 shares of the company's stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the transaction, the chief executive officer now directly owns 306,931 shares in the company, valued at $17,998,433.84. This trade represents a 3.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,848 shares of company stock valued at $3,182,033. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Finally, Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One equities research 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's stock. According to data from MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $75.00.

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.