Westwood Holdings Group Inc. lowered its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,127,854 shares of the semiconductor company's stock after selling 302,042 shares during the quarter. Westwood Holdings Group Inc. owned 1.06% of Rambus worth $59,618,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after acquiring an additional 31,645 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after acquiring an additional 4,445,146 shares during the last quarter. Invesco Ltd. boosted its holdings in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Rambus by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after acquiring an additional 68,975 shares during the last quarter. Finally, Norges Bank acquired a new position in Rambus in the fourth quarter valued at $94,368,000. Institutional investors and hedge funds own 88.54% of the company's stock.
Rambus Stock Performance
Shares of NASDAQ:RMBS traded down $1.02 during trading on Wednesday, hitting $54.63. The company's stock had a trading volume of 1,153,216 shares, compared to its average volume of 1,294,626. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The stock's 50-day moving average price is $51.13 and its two-hundred day moving average price is $55.41. The company has a market capitalization of $5.87 billion, a PE ratio of 32.91 and a beta of 1.24.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on RMBS. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Rosenblatt Securities restated a "buy" rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a research note on Monday. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $75.00.
Get Our Latest Stock Report on RMBS
Insider Buying and Selling
In related news, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at $17,047,718.49. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the sale, the director now directly owns 10,904 shares of the company's stock, valued at approximately $605,826.24. This represents a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,001 shares of company stock worth $3,080,226. 1.00% of the stock is currently owned by corporate insiders.
About Rambus
(
Free Report)
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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