Rambus, Inc. $RMBS Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 19.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,556,838 shares of the semiconductor company’s stock after selling 623,538 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rambus were worth $266,423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Steigerwald Gordon & Koch Inc. purchased a new stake in Rambus during the 3rd quarter worth about $25,000. True Wealth Design LLC boosted its stake in shares of Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 260 shares during the period. Abound Wealth Management acquired a new position in shares of Rambus during the third quarter worth about $28,000. Bessemer Group Inc. increased its stake in shares of Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 596 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on RMBS. Evercore lowered their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Finally, William Blair started coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average target price of $105.71.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $104.13 on Friday. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75. The firm has a market capitalization of $11.21 billion, a P/E ratio of 49.35 and a beta of 1.53. The company’s fifty day moving average price is $101.93 and its 200 day moving average price is $95.41.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The company had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. On average, sell-side analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.