Jackson Square Partners LLC reduced its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 52.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,318 shares of the semiconductor company's stock after selling 34,949 shares during the quarter. Jackson Square Partners LLC's holdings in Rambus were worth $1,655,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Rambus during the third quarter valued at approximately $275,000. Great Valley Advisor Group Inc. increased its position in shares of Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock valued at $361,000 after purchasing an additional 350 shares during the last quarter. Cerity Partners LLC raised its holdings in Rambus by 69.5% during the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company's stock valued at $701,000 after buying an additional 6,814 shares during the period. Swedbank AB lifted its position in Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock worth $73,589,000 after buying an additional 193,150 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in Rambus by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company's stock worth $38,092,000 after buying an additional 356,496 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company upped their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research note on Tuesday, February 4th. Evercore ISI started coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Finally, StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $76.71.
Check Out Our Latest Stock Analysis on RMBS
Rambus Stock Performance
RMBS stock traded down $1.74 during midday trading on Friday, reaching $53.70. The stock had a trading volume of 975,843 shares, compared to its average volume of 1,299,832. The firm has a fifty day simple moving average of $59.37 and a two-hundred day simple moving average of $53.42. The stock has a market cap of $5.77 billion, a PE ratio of 32.35 and a beta of 1.25. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.
Insider Buying and Selling at Rambus
In other news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company's stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,952 shares of company stock worth $4,992,255. Insiders own 1.00% of the company's stock.
Rambus Profile
(
Free Report)
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.
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