Neuberger Berman Group LLC Sells 376,196 Shares of Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Neuberger Berman Group LLC reduced its stake in Rambus, Inc. by 22.7% in the 1st quarter, selling 376,196 shares, and now holds approximately 1.19% of the company valued at $66.6 million.
• Several institutional investors, including Mariner LLC and Quarry LP, have adjusted their positions in Rambus, indicating ongoing interest in the semiconductor stock amidst a tightly held market (88.54% institutional ownership).
• Rambus shares opened at $76.79 with a market cap of $8.26 billion and an average target price of $77.71, reflecting a buy rating from analysts, although Wall Street Zen downgraded it from "buy" to "hold."

Neuberger Berman Group LLC decreased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 22.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,282,168 shares of the semiconductor company's stock after selling 376,196 shares during the period. Neuberger Berman Group LLC owned approximately 1.19% of Rambus worth $66,664,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Mariner LLC increased its holdings in shares of Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after buying an additional 167 shares during the period. Quarry LP increased its holdings in Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 247 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Rambus by 4.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after acquiring an additional 266 shares in the last quarter. Xponance Inc. boosted its position in Rambus by 1.8% during the 1st quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock valued at $803,000 after acquiring an additional 280 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Rambus by 24.8% during the 1st quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Up 0.5%

Shares of Rambus stock opened at $76.79 on Thursday. The stock's 50-day simple moving average is $65.64 and its 200-day simple moving average is $58.45. Rambus, Inc. has a 52 week low of $37.42 and a 52 week high of $78.16. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 36.22 and a beta of 1.28.

Insider Activity

In other news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of Rambus stock in a transaction dated 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 $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,111 shares of company stock worth $939,567 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on RMBS. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research report on Sunday. Susquehanna upped their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Rosenblatt Securities increased their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Rambus has an average rating of "Buy" and an average target price of $77.71.

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.

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