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

Virtu Financial LLC lowered its holdings in Rambus Inc. (NASDAQ:RMBS) by 37.4% during the 4th quarter, Holdings Channel reports. 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.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in 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 acquiring an additional 640 shares during the last quarter. Quarry LP grew its position in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 264 shares during the period. Farther Finance Advisors LLC grew its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna lifted their price objective 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. Finally, Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $76.71.

Rambus Stock Down 2.1 %

RMBS stock 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 firm has a market capitalization of $5.96 billion, a PE ratio of 33.40 and a beta of 1.25. The stock has a 50-day simple moving average of $59.53 and a two-hundred day simple moving average of $53.22.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now owns 42,000 shares of the company’s stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 18th. The shares were 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 approximately $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 sold 76,952 shares of company stock valued at $4,992,255. Corporate insiders own 1.00% of the company’s stock.

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.