Zurcher Kantonalbank Zurich Cantonalbank Decreases Position in Rambus Inc. (NASDAQ:RMBS)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,244 shares of the semiconductor company’s stock after selling 2,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rambus were worth $1,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RMBS. Blue Trust Inc. raised its stake in Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 224 shares during the last quarter. Fifth Third Bancorp raised its stake in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new position in Rambus in the 3rd quarter worth $39,000. NBC Securities Inc. purchased a new position in Rambus in the 3rd quarter worth $72,000. Finally, Exchange Traded Concepts LLC purchased a new position in Rambus in the 3rd quarter worth $78,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS opened at $58.12 on Friday. The stock has a 50-day simple moving average of $59.92 and a two-hundred day simple moving average of $62.55. The firm has a market capitalization of $6.31 billion, a P/E ratio of 19.37 and a beta of 1.16. Rambus Inc. has a fifty-two week low of $43.58 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. As a group, analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current year.

Insider Activity at Rambus

In related news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares in the company, valued at approximately $6,667,595. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP John Shinn sold 3,889 shares of Rambus stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $62.68, for a total value of $243,762.52. Following the completion of the transaction, the senior vice president now owns 24,559 shares in the company, valued at approximately $1,539,358.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock worth $7,408,298 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RMBS shares. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company raised their target price on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

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.