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

Primecap Management Co. CA reduced its holdings in shares of Rambus Inc. (NASDAQ:RMBSFree Report) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,963 shares of the semiconductor company’s stock after selling 31,200 shares during the period. Primecap Management Co. CA’s holdings in Rambus were worth $9,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC acquired a new stake in Rambus in the 4th quarter worth approximately $221,000. Wells Fargo & Company MN increased its position in shares of Rambus by 2.4% in the 4th quarter. Wells Fargo & Company MN now owns 131,600 shares of the semiconductor company’s stock valued at $8,982,000 after acquiring an additional 3,054 shares during the period. Coldstream Capital Management Inc. lifted its position in Rambus by 3.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after acquiring an additional 173 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Rambus in the fourth quarter valued at about $1,434,000. Finally, Norges Bank purchased a new position in shares of Rambus in the fourth quarter worth about $84,756,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the transaction, the chief executive officer now owns 304,755 shares in the company, valued at approximately $18,946,618.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.18, for a total value of $487,304.66. Following the transaction, the chief financial officer now owns 41,958 shares in the company, valued at $2,608,948.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total value of $932,550.00. Following the sale, the chief executive officer now owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The disclosure for this sale can be found here. Insiders have sold a total of 124,488 shares of company stock worth $7,606,063 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Rambus Price Performance

RMBS stock traded up $0.55 during mid-day trading on Friday, reaching $55.70. 1,279,241 shares of the company’s stock were exchanged, compared to its average volume of 1,263,369. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 17.03 and a beta of 1.18. Rambus Inc. has a 12-month low of $48.13 and a 12-month high of $76.38. The stock’s 50 day moving average is $58.67 and its 200 day moving average is $62.73.

Rambus (NASDAQ:RMBSGet Free Report) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $133.60 million for the quarter, compared to analyst estimates of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. On average, research analysts forecast that Rambus Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.00.

Check Out Our Latest Stock Analysis on Rambus

About Rambus

(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.

See Also

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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