Hsbc Holdings PLC Reduces Holdings in Rambus Inc. (NASDAQ:RMBS)

Hsbc Holdings PLC cut its position in Rambus Inc. (NASDAQ:RMBS) by 82.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,324 shares of the semiconductor company’s stock after selling 91,957 shares during the quarter. Hsbc Holdings PLC’s holdings in Rambus were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMBS. Stifel Financial Corp acquired a new stake in shares of Rambus during the fourth quarter valued at about $645,000. Tower Research Capital LLC TRC grew its stake in Rambus by 205.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,485 shares of the semiconductor company’s stock valued at $501,000 after purchasing an additional 6,379 shares in the last quarter. Natixis increased its holdings in Rambus by 11.9% during the 4th quarter. Natixis now owns 24,500 shares of the semiconductor company’s stock worth $1,295,000 after purchasing an additional 2,600 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Rambus by 4.9% during the 4th quarter. MetLife Investment Management LLC now owns 122,295 shares of the semiconductor company’s stock valued at $6,465,000 after buying an additional 5,761 shares during the last quarter. Finally, Epoch Investment Partners Inc. purchased a new position in shares of Rambus during the 4th quarter valued at approximately $459,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,300 shares of company stock valued at $6,745,221. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a research report on Sunday. Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and an average price target of $75.00.

Rambus Stock Up 4.9 %

Shares of NASDAQ RMBS opened at $51.29 on Friday. The firm’s 50-day moving average price is $51.06 and its two-hundred day moving average price is $54.64. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The stock has a market capitalization of $5.51 billion, a P/E ratio of 30.90 and a beta of 1.20.

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.