Greenwood Capital Associates LLC Cuts Stock Position in Rambus, Inc. $RMBS

Greenwood Capital Associates LLC lowered its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,218 shares of the semiconductor company’s stock after selling 1,184 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Rambus were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RMBS. Banque Cantonale Vaudoise purchased a new stake in shares of Rambus during the 1st quarter valued at about $25,000. Tsfg LLC bought a new stake in Rambus during the first quarter worth approximately $26,000. McIlrath & Eck LLC bought a new stake in Rambus during the first quarter worth approximately $42,000. Larson Financial Group LLC boosted its holdings in shares of Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 794 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of Rambus by 19,360.0% in the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 968 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Activity at Rambus

In other news, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. This represents a 12.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 7,500 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $85.63, for a total value of $642,225.00. Following the transaction, the director directly owned 30,824 shares in the company, valued at $2,639,459.12. The trade was a 19.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,913 shares of company stock worth $2,474,452. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Evercore ISI increased their target price on shares of Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Rambus in a report on Saturday, September 27th. Finally, Arete Research upgraded Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $93.50.

Rambus Price Performance

Rambus stock opened at $99.99 on Friday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 47.17 and a beta of 1.46. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $109.15. The firm has a 50-day moving average of $82.74 and a two-hundred day moving average of $65.26.

Rambus 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.