Rambus, Inc. $RMBS Shares Sold by Analog Century Management LP

Key Points

• Analog Century Management LP has reduced its holdings in Rambus, Inc. by 17.6%, now owning 680,113 shares after selling 145,175 shares in the first quarter.
• Market analysts have varied opinions on Rambus, with target price estimates ranging from $69 to $91, while the stock currently has a consensus rating of "Buy".
• Insider trading activity has seen directors of Rambus sell shares recently, with Director Necip Sayiner selling 7,500 shares valued at approximately $551,475.

Analog Century Management LP lessened its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 680,113 shares of the semiconductor company's stock after selling 145,175 shares during the quarter. Rambus comprises approximately 2.9% of Analog Century Management LP's holdings, making the stock its 18th biggest holding. Analog Century Management LP owned approximately 0.63% of Rambus worth $35,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RMBS. Sequoia Financial Advisors LLC lifted its holdings in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after acquiring an additional 808 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Rambus during the 1st quarter valued at $235,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after acquiring an additional 3,711 shares in the last quarter. KBC Group NV lifted its holdings in shares of Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after acquiring an additional 757 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after acquiring an additional 1,436 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ RMBS traded down $0.26 during midday trading on Wednesday, hitting $73.24. The company's stock had a trading volume of 451,815 shares, compared to its average volume of 1,068,800. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $81.89. The firm's fifty day moving average price is $69.63 and its 200-day moving average price is $59.46. The firm has a market cap of $7.88 billion, a P/E ratio of 34.54 and a beta of 1.38.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMBS. Rosenblatt Securities lifted their target price on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Arete Research upgraded shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Susquehanna lifted their target price on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Jefferies Financial Group lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat, Rambus presently has a consensus rating of "Buy" and a consensus price target of $79.38.

Insider Transactions at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the business's 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 directly owned 38,324 shares of the company's stock, valued at $2,817,963.72. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director directly owned 63,371 shares of the company's stock, valued at $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,686 shares of company stock valued at $718,381 over the last three months. 1.00% of the stock is currently owned by company insiders.

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.