Rambus Inc. (NASDAQ:RMBS) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 319,731 shares of the semiconductor company's stock after selling 42,521 shares during the period. AQR Capital Management LLC owned 0.30% of Rambus worth $16,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lido Advisors LLC acquired a new stake in Rambus in the fourth quarter worth about $265,000. Northern Trust Corp grew its position in Rambus by 13.2% during the 4th quarter. Northern Trust Corp now owns 1,463,338 shares of the semiconductor company's stock worth $77,352,000 after purchasing an additional 170,884 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Rambus by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 128,151 shares of the semiconductor company's stock valued at $6,774,000 after purchasing an additional 992 shares in the last quarter. Quarry LP raised its holdings in shares of Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after buying an additional 247 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Rambus by 6.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,609 shares of the semiconductor company's stock worth $296,000 after buying an additional 324 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Luc Seraphin sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a 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 dated Wednesday, February 19th. The shares were 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 represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,300 shares of company stock worth $6,745,221. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMBS. Wells Fargo & Company raised their target price on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Rosenblatt Securities restated a "buy" rating and issued a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a report on Sunday. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Finally, Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $75.00.

Rambus Stock Performance

Shares of RMBS traded up $0.77 during mid-day trading on Thursday, hitting $51.64. 1,280,762 shares of the company were exchanged, compared to its average volume of 1,292,440. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 31.11 and a beta of 1.24. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The company has a 50 day moving average of $50.73 and a 200-day moving average of $54.73.

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.