SG Americas Securities LLC Sells 61,626 Shares of Rambus Inc. (NASDAQ:RMBS)

SG Americas Securities LLC reduced its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 490,547 shares of the semiconductor company's stock after selling 61,626 shares during the quarter. SG Americas Securities LLC owned about 0.46% of Rambus worth $25,398,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RMBS. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rambus by 448.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company's stock worth $215,000 after acquiring an additional 3,245 shares during the period. Choreo LLC lifted its holdings in shares of Rambus by 10.2% during the 4th quarter. Choreo LLC now owns 11,837 shares of the semiconductor company's stock worth $634,000 after acquiring an additional 1,094 shares during the period. Empowered Funds LLC lifted its holdings in shares of Rambus by 160.3% during the 4th quarter. Empowered Funds LLC now owns 16,967 shares of the semiconductor company's stock worth $897,000 after acquiring an additional 10,450 shares during the period. Equitable Trust Co. purchased a new position in shares of Rambus during the 4th quarter worth about $305,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Rambus by 30.4% during the 4th quarter. Van ECK Associates Corp now owns 106,164 shares of the semiconductor company's stock worth $5,612,000 after acquiring an additional 24,723 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Down 4.2%

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RMBS shares. Rosenblatt Securities reissued a "buy" rating and set a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $75.00.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 6,348 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the sale, the chief executive officer now directly 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 SEC, which is available through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the firm'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 transaction, the director now directly owns 9,057 shares in the company, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,848 shares of company stock worth $3,182,033. 1.00% of the stock is owned by 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.