Magnetar Financial LLC Sells 5,042 Shares of Rambus Inc. (NASDAQ:RMBS)

Magnetar Financial LLC lowered its holdings in Rambus Inc. (NASDAQ:RMBS) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,535 shares of the semiconductor company’s stock after selling 5,042 shares during the quarter. Magnetar Financial LLC’s holdings in Rambus were worth $240,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its stake in shares of Rambus by 554.9% in 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. Skandinaviska Enskilda Banken AB publ grew its position in Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 640 shares during the period. Quarry LP raised its stake in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the transaction, the chief executive officer now directly owns 316,931 shares in the company, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,952 shares of company stock worth $4,405,855 over the last 90 days. Insiders own 1.00% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS opened at $56.72 on Monday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 34.17 and a beta of 1.25. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The stock has a fifty day moving average of $59.56 and a 200-day moving average of $52.90.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of recent analyst reports. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Susquehanna raised their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.71.

About Rambus

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.