Harbor Capital Advisors Inc. Sells 12,179 Shares of Rambus, Inc. $RMBS

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Rambus, Inc. by 15.9%, owning 64,440 shares worth approximately $4.1 million following the sale of 12,179 shares.
• Several large investors increased their positions in Rambus, with institutional investors and hedge funds now owning 88.54% of the company's stock.
• Rambus stock received multiple upgrades from analysts, with a consensus rating of "Buy" and a price target average of $88.50.

Harbor Capital Advisors Inc. lowered its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 15.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,440 shares of the semiconductor company's stock after selling 12,179 shares during the quarter. Harbor Capital Advisors Inc. owned 0.06% of Rambus worth $4,125,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers increased its holdings in Rambus by 3.2% in the fourth quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock valued at $1,294,000 after buying an additional 757 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Rambus in the 4th quarter valued at $746,000. Quantinno Capital Management LP raised its holdings in shares of Rambus by 19.6% in the 4th quarter. Quantinno Capital Management LP now owns 7,413 shares of the semiconductor company's stock valued at $392,000 after purchasing an additional 1,213 shares during the period. ProShare Advisors LLC boosted its position in shares of Rambus by 24.2% during the 4th quarter. ProShare Advisors LLC now owns 49,027 shares of the semiconductor company's stock worth $2,592,000 after acquiring an additional 9,546 shares in the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Rambus by 11.6% during the fourth quarter. Vident Advisory LLC now owns 73,714 shares of the semiconductor company's stock valued at $3,897,000 after acquiring an additional 7,686 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Susquehanna increased their target price on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Evercore ISI raised their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Arete Research upgraded Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, Rambus currently has a consensus rating of "Buy" and a consensus target price of $93.50.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the sale, the director directly owned 29,914 shares in the company, valued at $2,145,432.08. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director owned 38,324 shares of the company's stock, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,260 shares of company stock valued at $2,407,852. Corporate insiders own 1.00% of the company's stock.

Rambus Trading Down 4.7%

NASDAQ:RMBS traded down $5.03 during trading hours on Friday, reaching $102.35. The company had a trading volume of 9,561,482 shares, compared to its average volume of 1,983,657. Rambus, Inc. has a 52 week low of $38.15 and a 52 week high of $107.67. The firm's 50 day moving average price is $75.36 and its 200-day moving average price is $61.90. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 48.28 and a beta of 1.38.

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.