XTX Topco Ltd Lowers Holdings in Rambus, Inc. $RMBS

XTX Topco Ltd trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 87.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,471 shares of the semiconductor company’s stock after selling 31,104 shares during the quarter. XTX Topco Ltd’s holdings in Rambus were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RMBS. LPL Financial LLC lifted its stake in shares of Rambus by 26.3% in the first quarter. LPL Financial LLC now owns 80,016 shares of the semiconductor company’s stock worth $4,143,000 after buying an additional 16,652 shares in the last quarter. Blair William & Co. IL purchased a new position in Rambus in the 1st quarter worth approximately $235,000. Charles Schwab Investment Management Inc. lifted its position in Rambus by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company’s stock valued at $65,047,000 after acquiring an additional 6,600 shares in the last quarter. Deutsche Bank AG lifted its position in Rambus by 38.7% in the 1st quarter. Deutsche Bank AG now owns 192,826 shares of the semiconductor company’s stock valued at $9,985,000 after acquiring an additional 53,824 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Rambus during the 1st quarter valued at $57,084,000. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the transaction, the director owned 30,824 shares in the company, valued at $2,639,459.12. This trade represents a 19.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 26,227 shares of company stock valued at $2,499,780. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Susquehanna set a $100.00 price target on Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Arete Research raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Thursday, August 28th. Evercore ISI upped their target price on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $108.14.

Rambus Stock Performance

RMBS stock opened at $104.07 on Tuesday. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 49.32 and a beta of 1.51. The business’s 50-day moving average is $99.17 and its two-hundred day moving average is $81.04. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $114.55.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm had revenue of $178.51 million for the quarter, compared to the consensus estimate of $175.60 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current year.

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.