Primecap Management Co. CA Trims Stock Position in Rambus Inc. (NASDAQ:RMBS)

Primecap Management Co. CA lessened its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,500 shares of the semiconductor company's stock after selling 12,000 shares during the period. Primecap Management Co. CA owned approximately 0.08% of Rambus worth $4,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of RMBS. SG Americas Securities LLC raised its holdings in shares of Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after acquiring an additional 520,754 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Rambus during the 3rd quarter valued at about $989,000. Campbell Newman Asset Management Inc. raised its stake in shares of Rambus by 72.2% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock worth $2,064,000 after acquiring an additional 16,376 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rambus in the 3rd quarter worth approximately $2,077,000. Finally, FORA Capital LLC boosted its stake in shares of Rambus by 63.7% in the 3rd quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock valued at $1,701,000 after purchasing an additional 15,671 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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Rambus Price Performance

Rambus stock traded up $2.15 during mid-day trading on Monday, reaching $58.87. 680,213 shares of the company traded hands, compared to its average volume of 1,266,805. The firm's 50 day moving average price is $59.56 and its 200 day moving average price is $52.90. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 35.46 and a beta of 1.25. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated 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 transaction, the director now directly owns 42,000 shares of the company's stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,952 shares of company stock worth $4,405,855. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on RMBS. Wells Fargo & Company boosted their price target 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. StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. One 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 MarketBeat.com, Rambus has an average rating of "Buy" and a consensus price target of $76.71.

Rambus Company 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.