Granahan Investment Management LLC Reduces Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Granahan Investment Management LLC reduced its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 22.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 82,620 shares of the semiconductor company's stock after selling 24,306 shares during the period. Granahan Investment Management LLC owned approximately 0.08% of Rambus worth $4,367,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UMB Bank n.a. lifted its position in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 455 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 640 shares during the period. Farther Finance Advisors LLC raised its position in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock worth $60,000 after acquiring an additional 891 shares in the last quarter. Quarry LP lifted its holdings in Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares during the period. Finally, GeoWealth Management LLC purchased a new stake in shares of Rambus during the 4th quarter worth $68,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RMBS. Rosenblatt Securities restated a "buy" rating and set a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. 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. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a report on Sunday, May 4th. Finally, Robert W. Baird set a $90.00 price target on Rambus in a research report on Monday, February 3rd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $75.00.

Rambus Price Performance

NASDAQ:RMBS traded down $0.49 during mid-day trading on Friday, reaching $56.29. The company's stock had a trading volume of 254,339 shares, compared to its average volume of 1,292,045. The stock has a market cap of $6.05 billion, a P/E ratio of 33.92 and a beta of 1.24. The company's fifty day simple moving average is $50.89 and its two-hundred day simple moving average is $55.24. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares of the company's stock, valued at approximately $2,803,080. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the transaction, the chief executive officer now owns 316,931 shares in the company, valued at $17,047,718.49. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,300 shares of company stock worth $6,745,221 in the last three months. Company insiders own 1.00% of the company's stock.

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.