BNP Paribas Financial Markets Reduces Position in Rambus Inc. (NASDAQ:RMBS)

BNP Paribas Financial Markets lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 57.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 57,221 shares of the semiconductor company’s stock after selling 77,679 shares during the quarter. BNP Paribas Financial Markets’ holdings in Rambus were worth $3,025,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. UMB Bank n.a. boosted its holdings in shares of Rambus by 554.9% in the fourth 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 boosted its holdings in shares of 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 purchasing an additional 640 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares during the period. Quarry LP boosted its holdings in shares of Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 247 shares during the period. Finally, GeoWealth Management LLC purchased a new stake in shares of Rambus in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 1.5%

Rambus stock opened at $56.77 on Friday. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock’s fifty day simple moving average is $50.89 and its 200-day simple moving average is $55.24. The firm has a market capitalization of $6.10 billion, a P/E ratio of 34.20 and a beta of 1.24.

Insider Buying and Selling at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the 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 transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,300 shares of company stock worth $6,745,221 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RMBS. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a report on Sunday, May 4th. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. Evercore ISI assumed coverage on Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Susquehanna boosted their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company boosted their price objective 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. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $75.00.

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.