Rambus, Inc. $RMBS Holdings Cut by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its holdings in Rambus, Inc. (NASDAQ:RMBS) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,995 shares of the semiconductor company’s stock after selling 406 shares during the period. Yousif Capital Management LLC’s holdings in Rambus were worth $2,304,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RMBS. GAMMA Investing LLC lifted its holdings in Rambus by 45.8% in the first quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company’s stock worth $237,000 after acquiring an additional 1,436 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Rambus by 24.8% in the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company’s stock worth $73,000 after acquiring an additional 282 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Rambus by 57.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company’s stock worth $358,000 after acquiring an additional 2,522 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Rambus by 2.8% during the first quarter. State of Alaska Department of Revenue now owns 12,490 shares of the semiconductor company’s stock valued at $646,000 after buying an additional 335 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Rambus by 4.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company’s stock valued at $298,000 after buying an additional 266 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $96.26 on Friday. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $109.15. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 45.41 and a beta of 1.46. The stock’s 50 day moving average price is $87.63 and its 200 day moving average price is $68.10.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RMBS. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Thursday, August 28th. Jefferies Financial Group lifted their price target on Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Wall Street Zen cut Rambus from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Rosenblatt Securities lifted their price target on Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Susquehanna set a $100.00 price target on Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $96.63.

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 1,075 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total transaction of $83,581.25. Following the sale, the director owned 62,296 shares of the company’s stock, valued at $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meera Rao sold 653 shares of Rambus stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total transaction of $66,599.47. Following the completion of the transaction, the director owned 29,261 shares in the company, valued at approximately $2,984,329.39. This trade represents a 2.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,913 shares of company stock worth $2,474,452 in the last three months. 1.00% of the stock is currently owned by company insiders.

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.