Truist Financial Corp Has $394,000 Stock Position in Rambus Inc. (NASDAQ:RMBS)

Truist Financial Corp lessened its stake in Rambus Inc. (NASDAQ:RMBSGet Rating) by 53.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,517 shares of the semiconductor company’s stock after selling 17,752 shares during the quarter. Truist Financial Corp’s holdings in Rambus were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMBS. Russell Investments Group Ltd. raised its stake in Rambus by 172.7% in the second quarter. Russell Investments Group Ltd. now owns 1,414,019 shares of the semiconductor company’s stock valued at $30,385,000 after purchasing an additional 895,409 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Rambus by 102.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,390,015 shares of the semiconductor company’s stock valued at $29,871,000 after acquiring an additional 702,125 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Rambus by 284.2% in the second quarter. Assenagon Asset Management S.A. now owns 681,629 shares of the semiconductor company’s stock valued at $14,648,000 after acquiring an additional 504,222 shares during the last quarter. Royce & Associates LP bought a new position in Rambus in the second quarter valued at about $10,573,000. Finally, Renaissance Technologies LLC grew its position in Rambus by 2,157.0% in the second quarter. Renaissance Technologies LLC now owns 205,386 shares of the semiconductor company’s stock valued at $4,414,000 after acquiring an additional 196,286 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 15,000 shares of Rambus stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $38.16, for a total value of $572,400.00. Following the transaction, the director now directly owns 27,873 shares of the company’s stock, valued at $1,063,633.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Rambus news, COO Xianzhi Sean Fan sold 52,852 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $37.88, for a total value of $2,002,033.76. Following the transaction, the chief operating officer now directly owns 127,886 shares of the company’s stock, valued at $4,844,321.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $38.16, for a total value of $572,400.00. Following the completion of the transaction, the director now directly owns 27,873 shares in the company, valued at $1,063,633.68. The disclosure for this sale can be found here. Insiders have sold a total of 127,124 shares of company stock valued at $4,825,048 over the last ninety days. 1.53% of the stock is owned by company insiders.

Rambus Price Performance

Rambus stock opened at $42.80 on Wednesday. The stock’s 50 day moving average is $37.72 and its 200 day moving average is $30.87. The firm has a market cap of $4.60 billion, a P/E ratio of -186.08 and a beta of 1.24. Rambus Inc. has a one year low of $20.00 and a one year high of $43.37.

Rambus (NASDAQ:RMBSGet Rating) last posted its quarterly earnings data on Monday, October 31st. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $112.20 million for the quarter, compared to analyst estimates of $141.00 million. Rambus had a positive return on equity of 20.24% and a negative net margin of 5.69%. The firm’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 earnings per share. Equities analysts anticipate that Rambus Inc. will post 1.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RMBS has been the topic of a number of recent analyst reports. TheStreet cut Rambus from a “b-” rating to a “c+” rating in a research report on Wednesday, December 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Rambus from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, November 1st. Wells Fargo & Company boosted their price target on Rambus from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Susquehanna Bancshares boosted their price target on Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday, November 1st. Finally, Susquehanna boosted their price target on Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday, November 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.17.

About Rambus

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Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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