Meeder Asset Management Inc. Sells 3,196 Shares of Rambus Inc. (NASDAQ:RMBS)

Meeder Asset Management Inc. reduced its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 74.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,102 shares of the semiconductor company’s stock after selling 3,196 shares during the quarter. Meeder Asset Management Inc.’s holdings in Rambus were worth $58,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMBS. UMB Bank n.a. boosted its holdings in Rambus by 554.9% during 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 last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Rambus by 927.5% during the 4th 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 shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after buying an additional 264 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Rambus by 379.1% in 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 in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 166 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total value of $586,400.00. Following the transaction, the chief executive officer now owns 306,931 shares of the company’s stock, valued at approximately $17,998,433.84. This represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,952 shares of company stock valued at $4,992,255 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Susquehanna lifted their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. One equities research 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 MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $76.71.

Rambus Stock Performance

NASDAQ RMBS opened at $52.29 on Wednesday. The stock has a market cap of $5.62 billion, a PE ratio of 31.50 and a beta of 1.25. The firm has a 50-day moving average of $58.95 and a 200-day moving average of $53.68. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.

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.