Nisa Investment Advisors LLC Sells 755 Shares of Rambus Inc. (NASDAQ:RMBS)

Nisa Investment Advisors LLC reduced its holdings in Rambus Inc. (NASDAQ:RMBS) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,985 shares of the semiconductor company’s stock after selling 755 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rambus were worth $211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rambus by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock worth $110,693,000 after acquiring an additional 21,053 shares in the last quarter. Swedbank AB grew its holdings in shares of Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after purchasing an additional 193,150 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after purchasing an additional 357,160 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Rambus Stock Down 1.4 %

Shares of RMBS stock opened at $59.29 on Thursday. The business’s fifty day moving average is $57.26 and its 200 day moving average is $50.20. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 36.83 and a beta of 1.23. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $73.62.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird began coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Wells Fargo & Company began coverage on shares of Rambus in a report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $74.67.

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.