Rambus Inc. (NASDAQ:RMBS) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,184,370 shares of the semiconductor company's stock after acquiring an additional 68,975 shares during the quarter. JPMorgan Chase & Co. owned about 3.93% of Rambus worth $221,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RMBS. SG Americas Securities LLC lifted its position in Rambus by 1,657.4% during the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after acquiring an additional 520,754 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Rambus during the third quarter worth about $989,000. Campbell Newman Asset Management Inc. boosted its position in Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after buying an additional 16,376 shares during the last quarter. Atria Investments Inc acquired a new position in Rambus in the 4th quarter worth approximately $336,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Rambus by 28.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after buying an additional 2,853 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Rosenblatt Securities boosted their price objective on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rambus has a consensus rating of "Buy" and an average target price of $76.71.

Insider Activity at Rambus

In related news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00. Following the completion of the transaction, the chief executive officer now owns 346,844 shares in the company, valued at $17,647,422.72. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 in the company, valued at approximately $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. In the last quarter, insiders have sold 86,952 shares of company stock valued at $5,501,055. 1.00% of the stock is owned by company insiders.

Rambus Trading Down 12.4 %

RMBS traded down $6.53 during trading on Thursday, hitting $46.15. The company's stock had a trading volume of 1,792,207 shares, compared to its average volume of 1,298,173. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 27.80 and a beta of 1.25. The business's fifty day simple moving average is $58.71 and its 200 day simple moving average is $53.67. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

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.