Harvest Fund Management Co. Ltd Sells 4,781 Shares of Rambus Inc. (NASDAQ:RMBS)

Harvest Fund Management Co. Ltd cut its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 60.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,137 shares of the semiconductor company’s stock after selling 4,781 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Rambus were worth $201,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Rambus by 787.6% in the 1st quarter. JPMorgan Chase & Co. now owns 3,756,514 shares of the semiconductor company’s stock worth $192,560,000 after purchasing an additional 3,333,307 shares during the last quarter. Norges Bank acquired a new stake in Rambus in the fourth quarter worth about $41,548,000. Captrust Financial Advisors increased its position in Rambus by 357.1% in the fourth quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock worth $46,188,000 after purchasing an additional 1,006,772 shares during the period. First Republic Investment Management Inc. acquired a new stake in Rambus in the first quarter worth about $37,795,000. Finally, FMR LLC increased its position in Rambus by 14,267.9% in the first quarter. FMR LLC now owns 714,514 shares of the semiconductor company’s stock worth $36,626,000 after purchasing an additional 709,541 shares during the period. 86.15% of the stock is currently owned by institutional investors.

Rambus Stock Down 6.3 %

Shares of NASDAQ RMBS opened at $55.55 on Friday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 32.87, a P/E/G ratio of 2.86 and a beta of 1.30. The company’s fifty day moving average is $56.77 and its 200-day moving average is $54.25. Rambus Inc. has a twelve month low of $23.84 and a twelve month high of $68.54.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 31st. The semiconductor company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $1.12. The company had revenue of $119.80 million for the quarter, compared to analyst estimates of $137.99 million. Rambus had a return on equity of 20.86% and a net margin of 40.38%. Rambus’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, research analysts anticipate that Rambus Inc. will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $73.00 price objective on shares of Rambus in a research report on Monday, August 14th. StockNews.com assumed coverage on shares of Rambus in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. TheStreet raised Rambus from a “c+” rating to a “b+” rating in a research note on Monday, July 31st. Jefferies Financial Group raised their target price on Rambus from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, Susquehanna upped their price target on Rambus from $60.00 to $75.00 and gave the company a “positive” rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Insider Transactions at Rambus

In other news, COO Xianzhi Sean Fan sold 17,309 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $54.99, for a total transaction of $951,821.91. Following the completion of the sale, the chief operating officer now owns 168,223 shares of the company’s stock, valued at $9,250,582.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.