First Trust Advisors LP Decreases Stock Position in Rambus Inc. (NASDAQ:RMBS)

First Trust Advisors LP decreased its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 56.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,609 shares of the semiconductor company's stock after selling 113,806 shares during the quarter. First Trust Advisors LP owned 0.08% of Rambus worth $4,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Rambus in the 3rd quarter worth $407,000. World Investment Advisors LLC purchased a new stake in shares of Rambus during the third quarter valued at $989,000. Franklin Resources Inc. increased its holdings in Rambus by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 413,086 shares of the semiconductor company's stock worth $18,612,000 after buying an additional 27,764 shares in the last quarter. GAMMA Investing LLC raised its position in Rambus by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company's stock worth $166,000 after buying an additional 514 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in Rambus by 11.1% during the 4th quarter. Diversified Trust Co now owns 30,041 shares of the semiconductor company's stock valued at $1,588,000 after acquiring an additional 2,992 shares during the period. Institutional investors own 88.54% of the company's stock.

Rambus Price Performance

Shares of NASDAQ:RMBS traded down $0.57 during mid-day trading on Monday, reaching $50.72. 907,266 shares of the company traded hands, compared to its average volume of 1,291,827. The company's 50 day moving average price is $51.06 and its 200-day moving average price is $54.72. The firm has a market cap of $5.45 billion, a PE ratio of 30.55 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Insider Transactions at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock valued at $6,745,221 over the last three months. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a report on Sunday. Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Finally, Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus presently has an average rating of "Buy" and an average price target of $75.00.

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.