Rambus Inc. (NASDAQ:RMBS) Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,257 shares of the semiconductor company’s stock after selling 482 shares during the quarter. Victory Capital Management Inc.’s holdings in Rambus were worth $2,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RMBS. UMB Bank n.a. boosted its position in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 455 shares during the period. Quarry LP lifted its stake in Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rambus by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock valued at $166,000 after acquiring an additional 514 shares during the period. Meeder Asset Management Inc. grew its position in shares of Rambus by 58.2% during the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of Rambus in the 4th quarter worth about $203,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMBS has been the subject of a number of analyst reports. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. Finally, 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. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Rambus presently has an average rating of “Buy” and an average price target of $76.71.

Rambus Stock Up 0.1 %

Shares of Rambus stock opened at $54.51 on Tuesday. The business has a fifty day simple moving average of $59.60 and a 200-day simple moving average of $52.52. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 32.84 and a beta of 1.25.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s 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 completion of the sale, the chief operating officer now directly 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 filing with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.