Rambus Inc. (NASDAQ:RMBS) Stake Reduced by Gotham Asset Management LLC

Gotham Asset Management LLC decreased its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 93.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,092 shares of the semiconductor company's stock after selling 56,466 shares during the period. Gotham Asset Management LLC's holdings in Rambus were worth $216,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after acquiring an additional 4,445,146 shares during the last quarter. Invesco Ltd. increased its position in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. Norges Bank purchased a new stake in Rambus during the 4th quarter worth about $94,368,000. Raymond James Financial Inc. purchased a new stake in Rambus during the 4th quarter worth about $51,500,000. Finally, Congress Asset Management Co. purchased a new stake in Rambus during the 4th quarter worth about $45,778,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven Laub sold 3,653 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 306,931 shares of the company's stock, valued at $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,001 shares of company stock worth $3,080,226 in the last three months. 1.00% of the stock is owned by insiders.

Rambus Price Performance

Rambus stock traded up $1.58 during midday trading on Tuesday, hitting $55.06. 778,144 shares of the company were exchanged, compared to its average volume of 1,285,723. The company's fifty day moving average price is $51.01 and its 200-day moving average price is $55.43. The company has a market cap of $5.91 billion, a PE ratio of 33.17 and a beta of 1.24. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective for the company. Susquehanna raised their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Company 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.