XTX Topco Ltd Lowers Stock Position in Rambus, Inc. $RMBS

XTX Topco Ltd cut its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 87.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,471 shares of the semiconductor company’s stock after selling 31,104 shares during the quarter. XTX Topco Ltd’s holdings in Rambus were worth $286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in shares of Rambus by 1,216.0% in the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares in the last quarter. Oak Grove Capital LLC bought a new position in Rambus in the 2nd quarter worth $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rambus by 10.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock worth $9,472,000 after buying an additional 17,282 shares during the period. First Citizens Bank & Trust Co. increased its stake in Rambus by 250.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock worth $870,000 after buying an additional 9,718 shares in the last quarter. Finally, Park West Asset Management LLC bought a new stake in Rambus during the first quarter valued at about $30,503,000. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the sale, the director directly owned 20,394 shares of the company’s stock, valued at $2,279,641.32. This trade represents a 16.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $66,599.47. Following the completion of the transaction, the director owned 29,261 shares of the company’s stock, valued at approximately $2,984,329.39. This trade represents a 2.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 26,227 shares of company stock valued at $2,499,780. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RMBS shares. Evercore ISI upped their price objective on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Robert W. Baird boosted their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Finally, Arete Research raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $108.14.

Rambus Stock Up 2.4%

Shares of NASDAQ:RMBS opened at $104.07 on Tuesday. The firm has a fifty day simple moving average of $99.17 and a two-hundred day simple moving average of $81.04. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $114.55. The stock has a market capitalization of $11.20 billion, a P/E ratio of 49.32 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The business had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. On average, analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current year.

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.