Rambus Inc. (NASDAQ:RMBS) Shares Sold by Barclays PLC

Barclays PLC decreased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 58.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,259 shares of the semiconductor company’s stock after selling 298,398 shares during the quarter. Barclays PLC owned 0.20% of Rambus worth $9,131,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RMBS. Blue Trust Inc. increased its position in Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Rambus by 11.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock valued at $294,000 after buying an additional 496 shares during the last quarter. Dakota Wealth Management acquired a new position in shares of Rambus in the second quarter valued at approximately $275,000. Fifth Third Bancorp boosted its position in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Rambus during the second quarter worth approximately $191,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 5,408 shares of the 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 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 document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $58.18 on Wednesday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The company has a 50 day moving average price of $51.82 and a 200 day moving average price of $50.44. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 36.14 and a beta of 1.22.

Analyst Upgrades and Downgrades

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