JPMorgan Chase & Co. Trims Position in Rambus Inc. (NASDAQ:RMBS)

JPMorgan Chase & Co. trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 37.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,115,395 shares of the semiconductor company's stock after selling 2,479,074 shares during the quarter. JPMorgan Chase & Co. owned 3.86% of Rambus worth $173,752,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new position in Rambus during the 2nd quarter valued at about $38,000. GAMMA Investing LLC lifted its holdings in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock valued at $111,000 after purchasing an additional 1,769 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Rambus by 255.9% during the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company's stock valued at $171,000 after buying an additional 2,920 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Rambus by 58.2% during the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company's stock worth $181,000 after buying an additional 1,582 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC raised its position in Rambus by 44.6% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 4,620 shares of the semiconductor company's stock valued at $195,000 after buying an additional 1,425 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. The trade was a 15.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Rambus Stock Performance

NASDAQ RMBS traded down $0.74 on Wednesday, hitting $52.86. 627,800 shares of the stock traded hands, compared to its average volume of 1,470,781. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 32.83 and a beta of 1.22. The business's fifty day moving average is $54.28 and its two-hundred day moving average is $50.29. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RMBS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, October 29th. Baird R W upgraded shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company initiated coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price objective for the company. Loop Capital began coverage on Rambus in a research note on Monday, November 11th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Robert W. Baird assumed coverage on Rambus in a report on Monday, November 25th. They issued an "outperform" rating and a $90.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $74.67.

Rambus Profile

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.