Westwood Holdings Group Inc. Cuts Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Westwood Holdings Group Inc. reduced its position in shares of Rambus Inc. (NASDAQ:RMBS) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,127,854 shares of the semiconductor company’s stock after selling 302,042 shares during the period. Westwood Holdings Group Inc. owned about 1.06% of Rambus worth $59,618,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Rambus by 28.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company’s stock valued at $682,000 after purchasing an additional 2,853 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Rambus during the fourth quarter worth approximately $476,000. M.E. Allison & CO. Inc. purchased a new stake in Rambus in the fourth quarter valued at approximately $312,000. UMB Bank n.a. boosted its holdings in shares of Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of Rambus during the fourth quarter worth approximately $292,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. StockNews.com upgraded shares of Rambus from a “hold” rating to a “buy” rating in a research note on Sunday, May 4th. 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 target for the company. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $75.00.

Rambus Trading Down 0.7%

Shares of NASDAQ:RMBS opened at $56.35 on Monday. The firm has a market cap of $6.05 billion, a PE ratio of 33.95 and a beta of 1.24. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The company has a fifty day simple moving average of $50.99 and a 200 day simple moving average of $55.36.

Insiders Place Their Bets

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock valued at $6,745,221 over the last 90 days. 1.00% of the stock is owned by company insiders.

Rambus Company 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.