Trexquant Investment LP Has $870,000 Stock Position in Rambus, Inc. $RMBS

Key Points

• Trexquant Investment LP reduced its holding in Rambus, Inc. by 81.9%, now owning shares valued at $870,000 after selling 75,897 shares in the first quarter.
• Institutional investors now own 88.54% of Rambus stock, with notable increases from Price T Rowe Associates Inc., Nuveen LLC, and others in the same quarter.
• Wall Street analysts maintain a generally positive outlook on Rambus, with an average Buy rating and price target of $79.38, following recent adjustments from several firms.

Trexquant Investment LP reduced its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 81.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 16,810 shares of the semiconductor company's stock after selling 75,897 shares during the quarter. Trexquant Investment LP's holdings in Rambus were worth $870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD boosted its stake in shares of Rambus by 60.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock valued at $452,870,000 after purchasing an additional 3,297,728 shares during the last quarter. Nuveen LLC bought a new stake in shares of Rambus in the 1st quarter valued at $57,084,000. Schwartz Investment Counsel Inc. bought a new stake in shares of Rambus in the 1st quarter valued at $19,690,000. Lord Abbett & CO. LLC bought a new stake in shares of Rambus in the 1st quarter valued at $17,706,000. Finally, Congress Asset Management Co. boosted its stake in shares of Rambus by 38.5% in the 1st quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock valued at $62,107,000 after purchasing an additional 333,538 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director directly owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction on 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 in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,686 shares of company stock valued at $933,541 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on RMBS shares. Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Arete Research raised shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Finally, Rosenblatt Securities upped their price objective on shares of Rambus from $80.00 to $90.00 and gave the company 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $79.38.

Rambus Stock Down 0.8%

Shares of NASDAQ RMBS opened at $74.81 on Friday. The firm has a market cap of $8.05 billion, a PE ratio of 35.29 and a beta of 1.38. Rambus, Inc. has a 12-month low of $37.42 and a 12-month high of $81.89. The company's fifty day simple moving average is $70.34 and its 200 day simple moving average is $59.64.

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.

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