Natixis Advisors LLC Sells 36,204 Shares of Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Natixis Advisors LLC reduced its stake in Rambus, Inc. by 22.8%, selling 36,204 shares in the first quarter, leaving them with 122,479 shares worth approximately $6.34 million.
• Several analysts have raised their price targets for Rambus, with Susquehanna increasing its target from $70 to $75 and Rosenblatt Securities raising theirs from $80 to $90, contributing to a consensus price target of $77.71.
• Rambus shares recently traded at $71.56, with a market capitalization of $7.70 billion and a price-to-earnings ratio of 33.75, amidst active insider trading where directors sold substantial shares recently.

Natixis Advisors LLC lessened its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 22.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 122,479 shares of the semiconductor company's stock after selling 36,204 shares during the period. Natixis Advisors LLC owned about 0.11% of Rambus worth $6,341,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after buying an additional 4,445,146 shares during the period. Invesco Ltd. raised its holdings in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Rambus in the 4th quarter valued at approximately $51,500,000. Analog Century Management LP acquired a new position in Rambus in the 4th quarter worth approximately $43,625,000. Finally, Oberweis Asset Management Inc. purchased a new position in Rambus during the 4th quarter worth approximately $21,641,000. 88.54% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $83,325.00. Following the completion of the sale, the director directly owned 63,371 shares in the company, valued at approximately $4,752,825. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Laub sold 1,847 shares of Rambus stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director directly owned 9,057 shares in the company, valued at approximately $499,221.84. This represents a 16.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,611 shares of company stock valued at $388,092. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RMBS. Susquehanna raised their target price on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. Jefferies Financial Group increased their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities lifted their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut shares of Rambus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $77.71.

Rambus Stock Performance

Shares of Rambus stock traded up $0.39 during midday trading on Thursday, reaching $71.95. 1,067,820 shares of the company's stock traded hands, compared to its average volume of 1,059,847. Rambus, Inc. has a 52 week low of $37.42 and a 52 week high of $76.20. The company's 50 day simple moving average is $64.10 and its 200 day simple moving average is $58.14. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 33.94 and a beta of 1.28.

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.