Nebula Research & Development LLC Sells 15,221 Shares of Rambus Inc. (NASDAQ:RMBS)

Nebula Research & Development LLC lessened its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 50.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,187 shares of the semiconductor company’s stock after selling 15,221 shares during the period. Nebula Research & Development LLC’s holdings in Rambus were worth $803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMBS. Oberweis Asset Management Inc. acquired a new position in Rambus in the fourth quarter valued at about $21,641,000. Penn Capital Management Company LLC increased its holdings in Rambus by 8.2% in the 4th quarter. Penn Capital Management Company LLC now owns 214,863 shares of the semiconductor company’s stock valued at $11,358,000 after buying an additional 16,327 shares during the period. Analog Century Management LP acquired a new position in shares of Rambus in the 4th quarter valued at approximately $43,625,000. Pinebridge Investments L.P. lifted its holdings in shares of Rambus by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 42,808 shares of the semiconductor company’s stock worth $2,263,000 after acquiring an additional 12,807 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after acquiring an additional 4,445,146 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Trading Up 3.2 %

NASDAQ:RMBS opened at $50.94 on Monday. The stock’s 50-day moving average is $52.28 and its 200-day moving average is $54.50. 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 $5.47 billion, a P/E ratio of 30.69 and a beta of 1.20.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Luc Seraphin sold 6,348 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer now directly owns 319,241 shares of the company’s stock, valued at $14,994,749.77. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,300 shares of company stock worth $6,745,221 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research note on Saturday. 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. Wells Fargo & Company lifted their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. 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. Finally, Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. One 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, Rambus has a consensus rating of “Buy” and an average price target 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.