Rambus Inc. (NASDAQ:RMBS) Holdings Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. cut its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,619 shares of the semiconductor company's stock after selling 9,295 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.07% of Rambus worth $3,967,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in Rambus during the 4th quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ grew its stake in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after buying an additional 640 shares during the period. Farther Finance Advisors LLC increased its position in shares of Rambus by 379.1% in the fourth 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 in the last quarter. Quarry LP raised its stake in shares of Rambus by 26.9% in the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Rambus by 129.6% in the 1st quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock valued at $64,000 after acquiring an additional 696 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Rosenblatt Securities reiterated a "buy" rating and issued a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rambus currently has a consensus rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Performance

Shares of NASDAQ:RMBS traded down $2.56 during trading on Friday, hitting $58.10. The company's stock had a trading volume of 892,400 shares, compared to its average volume of 1,268,473. The company has a market capitalization of $6.24 billion, a PE ratio of 35.00 and a beta of 1.20. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The stock's 50-day moving average price is $52.39 and its two-hundred day moving average price is $55.67.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 6,348 shares of Rambus stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the transaction, the chief executive officer now owns 319,241 shares in the company, valued at approximately $14,994,749.77. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Laub sold 1,847 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director now owns 9,057 shares of the company's stock, valued at $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,848 shares of company stock valued at $3,182,033. 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.