Hsbc Holdings PLC Decreases Position in Rambus Inc. (NASDAQ:RMBS)

Hsbc Holdings PLC lowered its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 82.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,324 shares of the semiconductor company's stock after selling 91,957 shares during the quarter. Hsbc Holdings PLC's holdings in Rambus were worth $1,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RMBS. Vanguard Group Inc. increased its holdings in Rambus by 0.3% during the 4th 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 in the last quarter. Invesco Ltd. raised its position in shares of Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Rambus by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after buying an additional 68,975 shares during the last quarter. Norges Bank acquired a new stake in Rambus during the 4th quarter valued at $94,368,000. Finally, Charles Schwab Investment Management Inc. increased its position in Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock worth $66,062,000 after buying an additional 5,761 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Activity

In other news, CEO Luc Seraphin sold 6,348 shares of the firm's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the transaction, the chief executive officer now owns 319,241 shares of the company's stock, valued at approximately $14,994,749.77. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,300 shares of company stock valued at $6,745,221 in the last three months. Corporate insiders own 1.00% of the company's stock.

Rambus Trading Up 4.9 %

Shares of Rambus stock opened at $51.29 on Friday. The business's fifty day moving average price is $51.06 and its 200 day moving average price is $54.64. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market capitalization of $5.51 billion, a P/E ratio of 30.90 and a beta of 1.20.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RMBS. 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. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. 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 research report on Tuesday, February 4th. StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rambus has an average rating of "Buy" and a consensus target price of $75.00.

About Rambus

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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