Rambus Inc. (NASDAQ:RMBS) Stake Lessened by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. trimmed its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,526 shares of the semiconductor company’s stock after selling 594 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Rambus were worth $1,719,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of 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 raised its stake in Rambus by 927.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 640 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Rambus by 379.1% during the 4th 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 during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Rambus in the 4th quarter worth approximately $73,000. Finally, Lindbrook Capital LLC grew its position in shares of 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 in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares in the company, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,952 shares of company stock worth $5,969,155. 1.00% of the stock is owned by company insiders.

Rambus Stock Up 0.5 %

Shares of NASDAQ:RMBS opened at $47.47 on Wednesday. The company’s 50-day moving average price is $55.22 and its 200 day moving average price is $54.11. The company has a market cap of $5.10 billion, a PE ratio of 28.60 and a beta of 1.20. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Analyst Ratings Changes

Several brokerages recently issued reports on RMBS. Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Rosenblatt Securities increased their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company raised 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. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $76.71.

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.