Silvercrest Asset Management Group LLC Sells 23,251 Shares of Rambus Inc. (NASDAQ:RMBS)

Silvercrest Asset Management Group LLC cut its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,133 shares of the semiconductor company's stock after selling 23,251 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.48% of Rambus worth $27,283,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RMBS. Hennion & Walsh Asset Management Inc. increased its position in Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after acquiring an additional 2,853 shares during the period. Diversify Advisory Services LLC bought a new position in Rambus during the fourth quarter worth about $476,000. M.E. Allison & CO. Inc. bought a new position in Rambus during the fourth quarter worth about $312,000. UMB Bank n.a. increased its position in Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 455 shares during the period. Finally, Dakota Wealth Management bought a new position in Rambus during the fourth quarter worth about $292,000. 88.54% of the stock is owned by institutional investors.

Rambus Stock Performance

Shares of Rambus stock traded down $0.16 during midday trading on Tuesday, hitting $55.65. 564,161 shares of the company traded hands, compared to its average volume of 1,292,494. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 33.52 and a beta of 1.24. The firm's fifty day moving average price is $51.05 and its 200-day moving average price is $55.42. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Analysts Set New Price Targets

RMBS has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 price target on shares of Rambus in a research report on Tuesday, April 29th. StockNews.com cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Monday. Evercore ISI started coverage on shares of Rambus in a research 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 target price on shares of Rambus in a research report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their target price 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $75.00.

Insider Activity

In other news, CEO Luc Seraphin sold 6,348 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 319,241 shares in the company, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven Laub sold 3,653 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the sale, the director now owns 10,904 shares of the company's stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 116,953 shares of company stock worth $6,948,181 in the last three months. Corporate insiders own 1.00% of the company's stock.

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.