328,053 Shares in Rambus Inc. (NASDAQ:RMBS) Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP acquired a new position in Rambus Inc. (NASDAQ:RMBS) during the 1st quarter, HoldingsChannel reports. The fund acquired 328,053 shares of the semiconductor company’s stock, valued at approximately $20,277,000.

Several other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Rambus by 12.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,143 shares of the semiconductor company’s stock worth $2,172,000 after purchasing an additional 3,950 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Rambus by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock worth $680,000 after purchasing an additional 229 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Rambus by 14.2% during the 1st quarter. ProShare Advisors LLC now owns 37,659 shares of the semiconductor company’s stock worth $2,328,000 after purchasing an additional 4,692 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Rambus by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock worth $3,814,000 after purchasing an additional 423 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Rambus during the 1st quarter worth approximately $485,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $75.00 target price (up from $72.00) on shares of Rambus in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Rambus Price Performance

RMBS traded down $1.76 during trading hours on Friday, reaching $57.97. The company’s stock had a trading volume of 1,601,348 shares, compared to its average volume of 1,265,963. Rambus Inc. has a fifty-two week low of $48.13 and a fifty-two week high of $76.38. The stock has a market cap of $6.25 billion, a PE ratio of 17.73 and a beta of 1.20. The business’s 50-day moving average is $58.21 and its 200-day moving average is $60.32.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Rambus had a return on equity of 16.99% and a net margin of 78.14%. The firm had revenue of $133.60 million for the quarter, compared to analysts’ expectations of $132.00 million. Analysts expect that Rambus Inc. will post 1.36 EPS for the current year.

Insider Buying and Selling at Rambus

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total value of $307,985.60. Following the sale, the director now owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.