Rambus Inc. (NASDAQ:RMBS) Stock Position Reduced by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 343,180 shares of the semiconductor company's stock after selling 8,621 shares during the quarter. Janus Henderson Group PLC owned about 0.32% of Rambus worth $18,140,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RMBS. Fred Alger Management LLC raised its position in Rambus by 129.2% during the 4th quarter. Fred Alger Management LLC now owns 62,508 shares of the semiconductor company's stock worth $3,304,000 after buying an additional 35,233 shares during the last quarter. Deutsche Bank AG raised its holdings in Rambus by 40.1% during the fourth quarter. Deutsche Bank AG now owns 139,002 shares of the semiconductor company's stock worth $7,348,000 after purchasing an additional 39,798 shares in the last quarter. Crestline Management LP raised its holdings in Rambus by 58.8% during the fourth quarter. Crestline Management LP now owns 410,113 shares of the semiconductor company's stock worth $21,679,000 after purchasing an additional 151,782 shares in the last quarter. Cetera Investment Advisers lifted its position in Rambus by 3.2% in the fourth quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock valued at $1,294,000 after purchasing an additional 757 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Rambus by 9.1% in the 4th quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock valued at $13,169,000 after purchasing an additional 20,682 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

NASDAQ RMBS traded down $0.54 during trading hours on Monday, hitting $55.81. 619,767 shares of the company's stock were exchanged, compared to its average volume of 1,294,688. The firm has a market capitalization of $5.99 billion, a P/E ratio of 33.62 and a beta of 1.24. The business's 50 day moving average is $50.99 and its 200-day moving average is $55.36. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Analyst Ratings Changes

RMBS has been the subject of several recent analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. Evercore ISI assumed coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price for the company. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded Rambus from a "hold" rating to a "buy" rating in a report on Sunday, May 4th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus target price of $75.00.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the company'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 owns 316,931 shares of the company's stock, valued at $17,047,718.49. This represents 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 at this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80% 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 quarter. 1.00% of the stock is owned by insiders.

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.