Marshall Wace LLP Sells 165,103 Shares of Rambus Inc. (NASDAQ:RMBS)

Marshall Wace LLP decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 89.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,455 shares of the semiconductor company's stock after selling 165,103 shares during the quarter. Marshall Wace LLP's holdings in Rambus were worth $1,081,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RMBS. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 31,645 shares in the last quarter. Invesco Ltd. grew its position in shares of Rambus by 72.1% in the 4th 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 period. JPMorgan Chase & Co. grew its position in shares of Rambus by 1.7% in the 4th 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 period. Norges Bank acquired a new position in shares of Rambus during the 4th quarter worth about $94,368,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rambus by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company's stock valued at $66,062,000 after purchasing an additional 5,761 shares during the period. Institutional investors own 88.54% of the company's stock.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the firm's stock in a transaction on 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 transaction, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the sale, the chief executive officer now directly owns 336,844 shares of the company's stock, valued at $15,767,667.64. This represents a 2.88 % 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. Corporate insiders own 1.00% of the company's stock.

Rambus Stock Performance

Shares of RMBS stock traded up $0.08 on Monday, hitting $51.37. The company's stock had a trading volume of 73,468 shares, compared to its average volume of 1,288,539. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The company has a market capitalization of $5.52 billion, a PE ratio of 30.93 and a beta of 1.20. The stock's 50 day moving average is $51.06 and its 200-day moving average is $54.72.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RMBS shares. Evercore ISI started coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price target on the stock. Rosenblatt Securities restated a "buy" rating and issued a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Susquehanna raised their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $75.00.

Rambus 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.