Two Sigma Advisers LP Sells 127,600 Shares of Rambus Inc. (NASDAQ:RMBS)

Two Sigma Advisers LP lessened its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 22.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 435,300 shares of the semiconductor company's stock after selling 127,600 shares during the period. Two Sigma Advisers LP owned 0.41% of Rambus worth $23,010,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after acquiring an additional 520,754 shares during the last quarter. Atria Investments Inc bought a new position in shares of Rambus in the fourth quarter worth approximately $336,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Rambus by 28.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after purchasing an additional 2,853 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock valued at $66,062,000 after purchasing an additional 5,761 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in Rambus during the fourth quarter valued at approximately $269,000. Institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective for the company. Finally, StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $75.00.

Rambus Stock Down 0.3%

Shares of NASDAQ:RMBS opened at $55.65 on Wednesday. The stock has a market cap of $5.98 billion, a PE ratio of 33.52 and a beta of 1.24. The company's fifty day moving average is $51.13 and its 200 day moving average is $55.42. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Insider Activity

In related news, Director Steven Laub sold 3,653 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the sale, the director now directly owns 10,904 shares in the company, valued at $605,826.24. This represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company's stock, valued at $17,998,433.84. The trade was a 3.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,001 shares of company stock valued at $3,080,226. 1.00% of the stock is currently owned by insiders.

Rambus Company 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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