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

Trexquant Investment LP reduced its position in Rambus Inc. (NASDAQ:RMBS) by 70.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 92,707 shares of the semiconductor company’s stock after selling 216,882 shares during the quarter. Trexquant Investment LP’s holdings in Rambus were worth $4,900,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RMBS. UMB Bank n.a. lifted its stake in 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 purchasing an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position 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 worth $38,000 after buying an additional 640 shares in the last quarter. Quarry LP boosted its stake in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the period. Farther Finance Advisors LLC grew its position in Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after buying an additional 891 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of research analyst reports. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price for the company. Wells Fargo & Company increased their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Susquehanna lifted their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus presently has an average rating of “Buy” and an average price target of $76.71.

Insider Transactions at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the 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 completion of the sale, the chief operating officer now owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,952 shares of company stock worth $5,501,055. Company insiders own 1.00% of the company’s stock.

Rambus Stock Down 6.5 %

Shares of NASDAQ:RMBS opened at $43.13 on Friday. The company’s fifty day moving average is $57.96 and its 200 day moving average is $53.74. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The stock has a market cap of $4.63 billion, a PE ratio of 25.98 and a beta of 1.25.

Rambus Company 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.