Prudential Financial Inc. trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,521 shares of the semiconductor company’s stock after selling 5,770 shares during the period. Prudential Financial Inc. owned about 0.17% of Rambus worth $2,423,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in RMBS. Ameritas Investment Partners Inc. lifted its stake in shares of Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 822 shares in the last quarter. Shelton Capital Management bought a new position in shares of Rambus in the second quarter valued at $126,000. Trexquant Investment LP bought a new position in shares of Rambus in the second quarter valued at $137,000. Petrus Trust Company LTA bought a new position in shares of Rambus in the second quarter valued at $138,000. Finally, Nine Chapters Capital Management LLC bought a new position in shares of Rambus in the third quarter valued at $158,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
Rambus, Inc. (RMBS) opened at $14.73 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Rambus, Inc. has a 12-month low of $11.30 and a 12-month high of $15.50. The firm has a market cap of $1,620.00, a PE ratio of 29.70, a P/E/G ratio of 2.83 and a beta of 0.74.
In related news, SVP Laura Stark sold 2,937 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.48, for a total transaction of $42,527.76. Following the transaction, the senior vice president now directly owns 205,966 shares of the company’s stock, valued at $2,982,387.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Penny Herscher sold 6,437 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $13.44, for a total transaction of $86,513.28. The disclosure for this sale can be found here. Insiders have sold 29,647 shares of company stock worth $403,804 over the last three months. 2.00% of the stock is owned by insiders.
A number of research analysts have weighed in on RMBS shares. J P Morgan Chase & Co lowered shares of Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, September 22nd. Citigroup raised their price objective on shares of Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, October 27th. Loop Capital reaffirmed a “buy” rating and issued a $19.00 price objective (up from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. Finally, BidaskClub lowered shares of Rambus from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Rambus has a consensus rating of “Hold” and an average price target of $15.98.
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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