Barclays PLC Sells 298,398 Shares of Rambus Inc. (NASDAQ:RMBS)

Barclays PLC decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 58.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 216,259 shares of the semiconductor company’s stock after selling 298,398 shares during the quarter. Barclays PLC’s holdings in Rambus were worth $9,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the period. Nisa Investment Advisors LLC raised its stake in Rambus by 11.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 496 shares during the last quarter. Dakota Wealth Management bought a new stake in Rambus in the 2nd quarter valued at $275,000. Fifth Third Bancorp grew its position in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Rambus during the 2nd quarter worth about $191,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Trading Down 1.6 %

Shares of NASDAQ RMBS opened at $58.18 on Wednesday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The company has a 50-day moving average of $51.82 and a two-hundred day moving average of $50.44. The company has a market cap of $6.20 billion, a PE ratio of 36.14 and a beta of 1.22.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RMBS has been the subject of a number of research reports. Loop Capital started coverage on Rambus in a research report on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective for the company. Robert W. Baird assumed coverage on shares of Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 target price on the stock. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company began coverage on shares of Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $74.67.

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.