Aigen Investment Management LP Trims Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Aigen Investment Management LP lowered its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 76.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,126 shares of the semiconductor company’s stock after selling 26,771 shares during the quarter. Aigen Investment Management LP’s holdings in Rambus were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new stake in shares of Rambus during the fourth quarter worth about $978,000. M&T Bank Corp purchased a new stake in shares of Rambus during the fourth quarter worth about $233,000. Atria Investments Inc purchased a new stake in shares of Rambus during the fourth quarter worth about $336,000. Assetmark Inc. grew its position in shares of Rambus by 6.3% during the fourth quarter. Assetmark Inc. now owns 104,946 shares of the semiconductor company’s stock worth $5,547,000 after purchasing an additional 6,208 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock worth $66,062,000 after purchasing an additional 5,761 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,360 shares of company stock valued at $4,182,809 in the last ninety days. Insiders own 1.00% of the company’s stock.

Rambus Price Performance

NASDAQ:RMBS opened at $54.88 on Friday. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 33.06 and a beta of 1.25. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15. The business has a 50 day simple moving average of $59.77 and a 200-day simple moving average of $52.12.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMBS. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and a consensus target price of $76.71.

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.