Y Intercept Hong Kong Ltd Sells 5,803 Shares of Rambus Inc. (NASDAQ:RMBS)

Y Intercept Hong Kong Ltd cut its holdings in Rambus Inc. (NASDAQ:RMBS) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,192 shares of the semiconductor company’s stock after selling 5,803 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rambus were worth $1,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. UMB Bank n.a. raised its holdings in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 455 shares during the period. Quarry LP raised its holdings in Rambus by 40.3% in the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares during the period. GAMMA Investing LLC raised its holdings in Rambus by 19.6% in the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 514 shares during the period. Meeder Asset Management Inc. raised its holdings in Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 1,582 shares during the period. Finally, MeadowBrook Investment Advisors LLC raised its holdings in Rambus by 44.6% in the third quarter. MeadowBrook Investment Advisors LLC now owns 4,620 shares of the semiconductor company’s stock worth $195,000 after purchasing an additional 1,425 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Trading Down 4.5 %

RMBS opened at $57.43 on Wednesday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 34.60 and a beta of 1.26. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $69.15. The firm’s fifty day simple moving average is $59.71 and its 200 day simple moving average is $51.58.

Insider Activity at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s 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 sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Meera Rao sold 5,408 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,360 shares of company stock valued at $4,182,809. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Susquehanna increased their target price 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, Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $76.71.

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.