Wellington Management Group LLP Sells 210,286 Shares of Rambus Inc. (NASDAQ:RMBS)

Wellington Management Group LLP trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,445 shares of the semiconductor company’s stock after selling 210,286 shares during the period. Wellington Management Group LLP owned about 1.17% of Rambus worth $65,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RMBS. SG Americas Securities LLC raised its holdings in Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock worth $29,188,000 after purchasing an additional 520,754 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Rambus during the 3rd quarter worth approximately $989,000. Campbell Newman Asset Management Inc. lifted its position in Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock valued at $2,064,000 after acquiring an additional 16,376 shares during the last quarter. Atria Investments Inc acquired a new stake in Rambus in the fourth quarter valued at approximately $336,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Rambus by 28.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock worth $682,000 after purchasing an additional 2,853 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 6.5 %

Shares of RMBS stock opened at $43.13 on Friday. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market cap of $4.63 billion, a P/E ratio of 25.98 and a beta of 1.25. The stock has a 50 day moving average of $57.96 and a 200 day moving average of $53.64.

Insider Activity

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,952 shares of company stock valued at $5,501,055 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RMBS. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna raised 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. Rosenblatt Securities upped their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus 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.