Truvestments Capital LLC Sells 11,784 Shares of Rambus, Inc. $RMBS

Key Points

• Truvestments Capital LLC significantly reduced its holdings in Rambus, Inc., selling 11,784 shares and leaving it with 8,045 shares valued at approximately $417,000.
• A variety of institutional investors have taken positions in Rambus, with notable increases from firms like Larsen Financial Group (1,260.3% increase) and Brooklyn Investment Group (19,360.0% increase).
• The stock currently has a consensus rating of "Buy" and an average target price of $77.71, despite a recent downgrade from a "buy" to a "hold" rating by Wall Street Zen.

Truvestments Capital LLC cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 59.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,045 shares of the semiconductor company's stock after selling 11,784 shares during the period. Truvestments Capital LLC's holdings in Rambus were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mariner LLC raised its stake in shares of Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after buying an additional 167 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Rambus by 2.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company's stock valued at $471,000 after purchasing an additional 179 shares during the period. Quarry LP grew its holdings in Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 247 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Rambus by 4.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after purchasing an additional 266 shares during the period. Finally, Xponance Inc. grew its holdings in Rambus by 1.8% during the first quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock valued at $803,000 after purchasing an additional 280 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

Shares of Rambus stock traded down $1.67 on Tuesday, hitting $72.10. The company had a trading volume of 289,754 shares, compared to its average volume of 1,065,900. The firm has a market capitalization of $7.76 billion, a P/E ratio of 34.01 and a beta of 1.38. Rambus, Inc. has a twelve month low of $37.42 and a twelve month high of $81.89. The stock has a 50-day moving average of $69.41 and a 200-day moving average of $59.36.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Arete Research upgraded shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Susquehanna boosted their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities boosted their price objective 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 upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective for the company in a report on Thursday, August 28th. Finally, Jefferies Financial Group boosted their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $79.38.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 7,500 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director owned 38,324 shares of the company's stock, valued at $2,817,963.72. The trade was a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Emiko Higashi sold 1,075 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the completion of the sale, the director directly owned 62,296 shares in the company, valued at approximately $4,843,514. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,686 shares of company stock worth $718,381. 1.00% of the stock is currently owned by insiders.

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.