Swedbank AB Trims Stock Position in Rambus Inc. (NASDAQ:RMBS)

Swedbank AB cut its holdings in Rambus Inc. (NASDAQ:RMBS) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,700,000 shares of the semiconductor company’s stock after selling 43,000 shares during the period. Swedbank AB owned 1.60% of Rambus worth $89,862,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. KBC Group NV increased its position in shares of Rambus by 54.8% during the fourth quarter. KBC Group NV now owns 4,008 shares of the semiconductor company’s stock valued at $212,000 after acquiring an additional 1,419 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Rambus by 8.6% during the 4th quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company’s stock worth $233,000 after purchasing an additional 350 shares during the period. SG Americas Securities LLC increased its holdings in Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after purchasing an additional 520,754 shares during the last quarter. Dakota Wealth Management purchased a new stake in Rambus in the fourth quarter valued at approximately $292,000. Finally, UMB Bank n.a. lifted its stake 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 purchasing an additional 455 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

RMBS stock opened at $59.29 on Thursday. The company’s 50 day moving average price is $57.26 and its 200 day moving average price is $50.20. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 36.83 and a beta of 1.23. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $73.62.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares in the company, valued at $1,693,619.80. The trade was 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 available through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.