Bailard Inc. Reduces Stake in Rambus, Inc. by Over 30%

Bailard Inc. has reduced its holdings in Rambus, Inc. (NASDAQ: RMBS) by 30.3% during the second quarter of the fiscal year. According to a report by Holdings Channel, the investment firm sold 9,838 shares, leaving it with 22,608 shares valued at approximately $1,447,000 based on its most recent filing with the Securities and Exchange Commission.

The changes in Bailard’s position come amid a broader trend of institutional investors adjusting their stakes in Rambus. Notably, Banque Cantonale Vaudoise entered a new position in the company during the first quarter worth around $25,000. Similarly, True Wealth Design LLC increased its stake by 162.5% in the second quarter, now holding 420 shares valued at approximately $27,000 after acquiring an additional 260 shares.

Institutional Investments and Market Performance

Bessemer Group Inc. also enhanced its investment in Rambus, increasing its position by 105.8% in the same quarter. This means the firm now owns 463 shares worth $30,000. Hantz Financial Services Inc. saw a significant boost, raising its stake by an astonishing 1,386.0% to a total of 639 shares, which are valued at around $41,000. McIlrath & Eck LLC joined the list of new investors with a position valued at $42,000.

Currently, institutional investors collectively hold 88.54% of Rambus’s stock. The company’s shares opened at $92.37 on November 10, 2023. Rambus has experienced considerable volatility over the past year, with a 12-month high of $114.55 and a low of $40.12. The firm has a market capitalization of $9.94 billion, a P/E ratio of 43.78, and a beta of 1.47.

Analyst Ratings and Insider Activity

Recent evaluations from equity research analysts reflect a positive outlook for Rambus. On October 28, 2023, the Jefferies Financial Group upgraded Rambus to a “strong-buy” rating. In contrast, Weiss Ratings adjusted its rating from “buy (b-)” to “hold (c+)” on November 7, 2023. Arete upgraded Rambus from a “neutral” to a “buy” rating, setting a price target of $91.00.

Additionally, Rosenblatt Securities reaffirmed a “buy” rating with a target price of $130.00. Wells Fargo & Company also increased its price target from $73.00 to $115.00, maintaining an “overweight” rating. Overall, three analysts have issued a “strong buy” rating, five have recommended a “buy,” and two have classified the stock as a “hold.” The consensus rating stands at “buy,” with an average target price of $108.14.

In terms of insider trading, Director Eric B. Stang sold 4,000 shares of the company’s stock on November 10, 2023, at an average price of $111.78, resulting in a total transaction value of $447,120.00. Following this sale, Stang directly holds 20,394 shares valued at approximately $2,279,641.32, marking a 16.40% decrease in his ownership.

Additionally, Director Necip Sayiner sold 7,500 shares on September 11, 2023, for a total of $642,225.00. Following this transaction, he possesses 30,824 shares worth about $2,639,459.12, reflecting a 19.57% decrease in his stake. In total, insiders have sold 29,227 shares of Rambus, amounting to $2,714,940 over the last quarter, with insiders currently owning 1.00% of the stock.

Rambus, Inc. specializes in semiconductor products, providing solutions such as DDR memory interface chips and silicon intellectual property across various international markets, including the United States, South Korea, and Singapore.