Securian Asset Management Inc. Sells 317 Shares of Rambus Inc. (NASDAQ:RMBS)

Securian Asset Management Inc. reduced its stake in Rambus Inc. (NASDAQ:RMBS) by 3.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,056 shares of the semiconductor company’s stock after selling 317 shares during the quarter. Securian Asset Management Inc.’s holdings in Rambus were worth $426,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Rambus in the fourth quarter worth about $51,500,000. Congress Asset Management Co. bought a new stake in Rambus during the 4th quarter worth approximately $45,778,000. SG Americas Securities LLC lifted its holdings in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after purchasing an additional 520,754 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Rambus in the third quarter worth approximately $18,984,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of Rambus by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after purchasing an additional 356,496 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $76.71.

Rambus Stock Performance

NASDAQ RMBS opened at $54.51 on Tuesday. The stock has a 50 day moving average price of $59.60 and a 200-day moving average price of $52.52. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a market capitalization of $5.86 billion, a P/E ratio of 32.84 and a beta of 1.25.

Insider Activity at Rambus

In related news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by 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.