Vaughan Nelson Investment Management L.P. trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 23.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 562,813 shares of the semiconductor company's stock after selling 172,975 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.52% of Rambus worth $29,140,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 166 shares in the last quarter. Mariner LLC boosted its stake in Rambus by 1.4% during 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 last quarter. Hillsdale Investment Management Inc. grew its holdings in Rambus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock valued at $2,400,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Rambus by 0.7% in the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after acquiring an additional 202 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in shares of Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after acquiring an additional 246 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Rambus
In related news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the completion of the transaction, the chief executive officer now directly owns 336,844 shares in the company, valued at approximately $15,767,667.64. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Laub sold 3,653 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the sale, the director now owns 10,904 shares in the company, valued at approximately $605,826.24. This trade represents a 25.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,848 shares of company stock worth $2,644,133 in the last three months. 1.00% of the stock is owned by company insiders.
Rambus Price Performance
Shares of NASDAQ:RMBS traded up $0.31 during mid-day trading on Wednesday, reaching $60.25. 279,821 shares of the company were exchanged, compared to its average volume of 1,262,881. Rambus, Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The firm's 50-day simple moving average is $52.89 and its 200 day simple moving average is $55.70. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 31.29 and a beta of 1.20.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Rambus presently has an average rating of "Buy" and a consensus price target of $75.00.
Check Out Our Latest Stock Analysis on RMBS
Rambus Company Profile
(
Free Report)
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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