Swedbank AB Reduces Holdings in Rambus Inc. (NASDAQ:RMBS)

Swedbank AB reduced its position in Rambus Inc. (NASDAQ:RMBS) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,700,000 shares of the semiconductor company’s stock after selling 43,000 shares during the period. Swedbank AB’s holdings in Rambus were worth $89,862,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in RMBS. UMB Bank n.a. increased its stake in Rambus by 554.9% in the fourth 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 acquired a new position in Rambus in the 2nd quarter valued at about $38,000. GAMMA Investing LLC raised its stake in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares during the last quarter. Blue Trust Inc. lifted its position in Rambus by 255.9% during the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after acquiring an additional 2,920 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of Rambus by 58.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock valued at $181,000 after purchasing an additional 1,582 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Wells Fargo & Company started coverage on shares of Rambus in a research report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Loop Capital assumed coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Robert W. Baird initiated coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus has an average rating of “Buy” and an average target price of $74.67.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Rambus Stock Down 1.4 %

Shares of NASDAQ RMBS opened at $59.29 on Thursday. The stock 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 52 week low of $37.42 and a 52 week high of $73.62. The firm has a 50-day moving average price of $57.26 and a 200 day moving average price of $50.20.

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.