Greenwood Capital Associates LLC Decreases Stock Holdings in Rambus, Inc. $RMBS

Greenwood Capital Associates LLC trimmed its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,218 shares of the semiconductor company’s stock after selling 1,184 shares during the period. Greenwood Capital Associates LLC’s holdings in Rambus were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Campbell Newman Asset Management Inc. boosted its stake in shares of Rambus by 7.2% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 41,663 shares of the semiconductor company’s stock worth $2,667,000 after buying an additional 2,784 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in Rambus by 0.7% in the second quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock valued at $1,310,000 after acquiring an additional 150 shares during the period. Signaturefd LLC lifted its holdings in Rambus by 14.8% in the second quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 166 shares during the period. New Insight Wealth Advisors purchased a new position in Rambus in the second quarter worth about $207,000. Finally, Congress Asset Management Co. grew its stake in shares of Rambus by 6.4% during the 2nd quarter. Congress Asset Management Co. now owns 1,276,926 shares of the semiconductor company’s stock valued at $81,749,000 after purchasing an additional 77,362 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 3.6%

NASDAQ RMBS opened at $99.99 on Friday. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 47.17 and a beta of 1.46. The business has a 50-day moving average price of $82.74 and a 200-day moving average price of $65.26. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $109.15.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RMBS. Jefferies Financial Group increased their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Rambus in a research report on Saturday, September 27th. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Arete raised 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. Finally, Evercore ISI raised their target price on Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Buy” and an average target price of $93.50.

Insider Activity at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the transaction, the chief financial officer owned 64,430 shares of the company’s stock, valued at $5,908,231. This represents a 12.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 1,075 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the transaction, the director directly owned 62,296 shares of the company’s stock, valued at $4,843,514. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,913 shares of company stock worth $2,474,452. 1.00% of the stock is currently owned by corporate insiders.

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.