Fox Run Management L.L.C. Reduces Stock Position in Rambus Inc. (NASDAQ:RMBS)

Fox Run Management L.L.C. trimmed its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,392 shares of the semiconductor company’s stock after selling 10,100 shares during the period. Fox Run Management L.L.C.’s holdings in Rambus were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. UMB Bank n.a. raised its stake in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rambus by 927.5% in the fourth 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 period. Quarry LP increased its position in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after acquiring an additional 264 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RMBS shares. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company upped their price objective on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Evercore ISI assumed coverage on Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.71.

Rambus Stock Performance

RMBS opened at $56.72 on Monday. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 34.17 and a beta of 1.25. The firm’s fifty day moving average is $59.56 and its 200 day moving average is $52.90. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the transaction, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,952 shares of company stock valued at $4,405,855 over the last ninety days. 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.