Man Group plc Sells 14,600 Shares of Rambus Inc. (NASDAQ:RMBS)

Man Group plc trimmed its position in Rambus Inc. (NASDAQ:RMBS) by 32.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,707 shares of the semiconductor company’s stock after selling 14,600 shares during the period. Man Group plc’s holdings in Rambus were worth $1,623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RMBS. UMB Bank n.a. lifted its holdings in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of 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 acquiring an additional 640 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of 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 acquiring an additional 891 shares during the last quarter. Quarry LP lifted its holdings in shares of Rambus by 26.9% during the 4th quarter. Quarry LP now owns 1,166 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 247 shares during the last quarter. Finally, GeoWealth Management LLC bought a new stake in shares of Rambus during the 4th quarter worth $68,000. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rambus news, Director Steven Laub sold 3,653 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director now owns 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total transaction of $468,100.00. Following the completion of the transaction, the chief executive officer now owns 336,844 shares in the company, valued at $15,767,667.64. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,001 shares of company stock worth $3,080,226 in the last 90 days. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on RMBS shares. Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Monday, May 19th. Finally, Susquehanna lifted their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $75.00.

Rambus Stock Down 1.9%

Shares of NASDAQ:RMBS opened at $53.48 on Friday. The stock has a market cap of $5.74 billion, a PE ratio of 32.22 and a beta of 1.24. The company’s fifty day moving average is $51.11 and its 200 day moving average is $55.48. 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.