Alliancebernstein L.P. Has $12.35 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Alliancebernstein L.P. cut its holdings in Rambus Inc. (NASDAQ:RMBS) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 233,636 shares of the semiconductor company’s stock after selling 2,817 shares during the quarter. Alliancebernstein L.P.’s holdings in Rambus were worth $12,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Rambus by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock valued at $665,771,000 after purchasing an additional 31,645 shares during the period. State Street Corp grew its position in shares of Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares during the period. JPMorgan Chase & Co. grew its position in shares of Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock valued at $221,186,000 after purchasing an additional 68,975 shares during the period. Geode Capital Management LLC lifted its stake in Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after acquiring an additional 21,053 shares in the last quarter. Finally, Norges Bank bought a new stake in Rambus in the 4th quarter valued at approximately $94,368,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Rambus presently has an average rating of “Buy” and an average price target of $76.71.

Insider Buying and Selling at Rambus

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 transaction 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 approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,952 shares of company stock valued at $5,969,155 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $52.29 on Thursday. The stock’s fifty day moving average price is $56.66 and its two-hundred day moving average price is $53.93. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 31.50 and a beta of 1.20.

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.