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

Magnetar Financial LLC trimmed its position in shares of 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 institutional investor 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RMBS. Empowered Funds LLC bought a new position in Rambus in the third quarter valued at approximately $275,000. Intech Investment Management LLC bought a new stake in Rambus in the 3rd quarter valued at $3,849,000. Landscape Capital Management L.L.C. acquired a new position in Rambus in the 3rd quarter worth $677,000. Great Valley Advisor Group Inc. increased its holdings in Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 350 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Rambus by 69.5% in the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock valued at $701,000 after purchasing an additional 6,814 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $76.71.

Rambus Price Performance

RMBS stock opened at $56.72 on Monday. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 34.17 and a beta of 1.25. The company has a 50 day simple moving average of $59.56 and a 200 day simple moving average of $52.90.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on 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 owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,952 shares of company stock worth $4,405,855. 1.00% of the stock is currently owned by insiders.

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.