Forum Financial Management LP Lowers Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Forum Financial Management LP cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,017 shares of the semiconductor company’s stock after selling 1,001 shares during the quarter. Forum Financial Management LP’s holdings in Rambus were worth $371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GeoWealth Management LLC purchased a new position in Rambus during the 4th quarter worth $68,000. Canada Pension Plan Investment Board bought a new position in shares of Rambus during the 4th quarter worth $12,459,000. Osterweis Capital Management Inc. purchased a new position in shares of Rambus during the fourth quarter valued at $9,343,000. Zacks Investment Management raised its holdings in shares of Rambus by 9.4% in the fourth quarter. Zacks Investment Management now owns 42,948 shares of the semiconductor company’s stock valued at $2,270,000 after acquiring an additional 3,678 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in Rambus by 5.8% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 11,998 shares of the semiconductor company’s stock worth $634,000 after acquiring an additional 662 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total transaction of $468,100.00. Following the sale, the chief executive officer now owns 336,844 shares of the company’s stock, valued at approximately $15,767,667.64. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company’s 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 transaction, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,952 shares of company stock worth $6,447,055 in the last ninety days. 1.00% of the stock is owned by insiders.

Rambus Trading Down 0.4 %

Shares of RMBS stock opened at $45.72 on Monday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The business’s fifty day simple moving average is $53.99 and its 200-day simple moving average is $54.31. The company has a market cap of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20.

Analyst Ratings Changes

A number of research analysts have commented on RMBS shares. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a report on Friday. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Finally, Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rambus currently has a consensus rating of “Buy” and an average price target of $76.71.

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.