Virtu Financial LLC Sells 3,601 Shares of Rambus Inc. (NASDAQ:RMBS)

Virtu Financial LLC decreased its stake in Rambus Inc. (NASDAQ:RMBS) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,032 shares of the semiconductor company’s stock after selling 3,601 shares during the period. Virtu Financial LLC’s holdings in Rambus were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RMBS. Raymond James Financial Inc. acquired a new stake in Rambus during the 4th quarter valued at approximately $51,500,000. Congress Asset Management Co. bought a new stake in shares of Rambus in the 4th quarter valued at $45,778,000. SG Americas Securities LLC increased its position in shares of Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after buying an additional 520,754 shares during the period. Point72 Hong Kong Ltd bought a new position in Rambus during the third quarter worth $18,984,000. Finally, Two Sigma Advisers LP lifted its holdings in Rambus by 172.3% in the third quarter. Two Sigma Advisers LP now owns 562,900 shares of the semiconductor company’s stock valued at $23,766,000 after buying an additional 356,200 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,952 shares of company stock worth $4,992,255. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Susquehanna increased their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities boosted their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Stock Down 2.1 %

Shares of NASDAQ:RMBS opened at $55.44 on Friday. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock’s 50 day moving average is $59.53 and its 200-day moving average is $53.22. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 33.40 and a beta of 1.25.

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.