Trexquant Investment LP Sells 216,882 Shares of Rambus Inc. (NASDAQ:RMBS)

Trexquant Investment LP cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 70.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,707 shares of the semiconductor company’s stock after selling 216,882 shares during the quarter. Trexquant Investment LP owned approximately 0.09% of Rambus worth $4,900,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RMBS. Vanguard Group Inc. boosted its position in shares of Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after purchasing an additional 31,645 shares in the last quarter. State Street Corp raised its stake in Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after buying an additional 164,830 shares during the period. JPMorgan Chase & Co. boosted its holdings in Rambus by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock worth $221,186,000 after acquiring an additional 68,975 shares in the last quarter. Geode Capital Management LLC grew its stake in Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after acquiring an additional 21,053 shares during the period. Finally, Norges Bank acquired a new stake in Rambus in the 4th quarter valued at $94,368,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $50.88, for a total transaction of $508,800.00. Following the completion of the transaction, the chief executive officer now directly owns 346,844 shares of the company’s stock, valued at approximately $17,647,422.72. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares in the company, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,952 shares of company stock valued at $5,501,055. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on RMBS. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Susquehanna lifted their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. 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. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and a consensus price target of $76.71.

Rambus Price Performance

NASDAQ RMBS opened at $43.13 on Friday. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 25.98 and a beta of 1.25. The business’s fifty day moving average is $57.96 and its 200-day moving average is $53.74. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

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.