Los Angeles Capital Management LLC Sells 4,420 Shares of Rambus Inc. (NASDAQ:RMBS)

Los Angeles Capital Management LLC reduced its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,835 shares of the semiconductor company’s stock after selling 4,420 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rambus were worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after purchasing an additional 616,670 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Rambus by 19.7% during the third quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after buying an additional 515,657 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Rambus by 76.5% during the third quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock valued at $110,891,000 after buying an additional 861,427 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Rambus by 0.4% in the third quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock worth $84,537,000 after buying an additional 5,856 shares during the period. Finally, Polar Capital Holdings Plc lifted its stake in shares of Rambus by 8.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,414,394 shares of the semiconductor company’s stock worth $78,909,000 after acquiring an additional 105,281 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

NASDAQ:RMBS opened at $56.34 on Wednesday. The firm has a market cap of $6.07 billion, a P/E ratio of 17.23 and a beta of 1.18. Rambus Inc. has a one year low of $46.89 and a one year high of $76.38. The firm has a 50-day simple moving average of $59.86 and a 200-day simple moving average of $62.48.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The business had revenue of $117.90 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%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, research analysts predict that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the sale, the chief operating officer now owns 121,229 shares in the company, valued at $6,667,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP John Shinn sold 3,928 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $64.93, for a total value of $255,045.04. Following the transaction, the senior vice president now directly owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,084 shares of company stock worth $7,408,298. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their target price on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

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.