First Trust Advisors LP Sells 42,920 Shares of Rambus Inc. (NASDAQ:RMBS)

First Trust Advisors LP decreased its stake in shares of Rambus Inc. (NASDAQ:RMBSGet Rating) by 26.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 121,952 shares of the semiconductor company’s stock after selling 42,920 shares during the period. First Trust Advisors LP owned 0.11% of Rambus worth $3,584,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its stake in Rambus by 2.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 14,942 shares of the semiconductor company’s stock worth $439,000 after purchasing an additional 420 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Rambus in the 3rd quarter worth about $1,163,000. Martingale Asset Management L P raised its stake in Rambus by 119.8% in the 3rd quarter. Martingale Asset Management L P now owns 45,873 shares of the semiconductor company’s stock worth $1,019,000 after purchasing an additional 24,999 shares in the last quarter. New York State Teachers Retirement System raised its stake in Rambus by 7.5% in the 4th quarter. New York State Teachers Retirement System now owns 63,502 shares of the semiconductor company’s stock worth $1,866,000 after purchasing an additional 4,441 shares in the last quarter. Finally, Cutler Group LP raised its stake in Rambus by 67.1% in the 4th quarter. Cutler Group LP now owns 2,306 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 926 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

In other Rambus news, SVP John Shinn sold 10,073 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $26.81, for a total transaction of $270,057.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles Kissner sold 9,674 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $24.78, for a total transaction of $239,721.72. Following the sale, the director now directly owns 18,747 shares in the company, valued at $464,550.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,560 shares of company stock valued at $4,875,798. 1.53% of the stock is owned by corporate insiders.

RMBS stock opened at $24.42 on Friday. The company has a 50 day simple moving average of $27.71 and a 200 day simple moving average of $27.03. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -58.14 and a beta of 1.16. Rambus Inc. has a 1 year low of $18.04 and a 1 year high of $33.75.

Several analysts have weighed in on RMBS shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Rambus from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Susquehanna Bancshares restated a “buy” rating and issued a $33.00 target price on shares of Rambus in a research report on Tuesday, May 3rd. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet cut shares of Rambus from a “b-” rating to a “c” rating in a research report on Monday, May 2nd. Finally, Credit Suisse Group boosted their target price on shares of Rambus from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, February 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Rambus presently has a consensus rating of “Buy” and a consensus price target of $31.14.

Rambus Company Profile (Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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