Primecap Management Co. CA Sells 31,200 Shares of Rambus Inc. (NASDAQ:RMBS)

Primecap Management Co. CA cut its stake in Rambus Inc. (NASDAQ:RMBSFree Report) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,963 shares of the semiconductor company’s stock after selling 31,200 shares during the period. Primecap Management Co. CA owned 0.13% of Rambus worth $9,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Rambus by 48.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,092 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 2,642 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Rambus by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,507 shares of the semiconductor company’s stock worth $754,000 after acquiring an additional 1,059 shares during the last quarter. California Public Employees Retirement System raised its stake in Rambus by 32.1% in the 3rd quarter. California Public Employees Retirement System now owns 215,853 shares of the semiconductor company’s stock valued at $12,042,000 after acquiring an additional 52,445 shares during the period. NBC Securities Inc. bought a new stake in Rambus in the 3rd quarter valued at about $72,000. Finally, Victory Capital Management Inc. lifted its holdings in Rambus by 15.0% during the third quarter. Victory Capital Management Inc. now owns 32,359 shares of the semiconductor company’s stock valued at $1,805,000 after purchasing an additional 4,231 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity at Rambus

In other news, SVP John Shinn sold 3,928 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total value of $255,045.04. Following the completion of the transaction, the senior vice president now directly owns 28,448 shares in the company, valued at approximately $1,847,128.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $62.69, for a total value of $940,350.00. Following the transaction, the chief executive officer now owns 289,755 shares in the company, valued at approximately $18,164,740.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Shinn sold 3,928 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the sale, the senior vice president now owns 28,448 shares of the company’s stock, valued at $1,847,128.64. The disclosure for this sale can be found here. Insiders have sold a total of 124,488 shares of company stock valued at $7,606,063 over the last 90 days. 1.00% of the stock is owned by insiders.

Rambus Stock Up 1.0 %

NASDAQ:RMBS traded up $0.55 during mid-day trading on Friday, hitting $55.70. 1,279,241 shares of the stock traded hands, compared to its average volume of 1,263,369. Rambus Inc. has a 12-month low of $48.13 and a 12-month high of $76.38. The company has a market cap of $6.00 billion, a PE ratio of 17.03 and a beta of 1.18. The business’s 50-day moving average price is $58.67 and its 200 day moving average price is $62.73.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on RMBS. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price target (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a report on Wednesday, March 13th. One investment 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.com, Rambus has an average rating of “Moderate Buy” and an average target price of $80.00.

Check Out Our Latest Stock Analysis on Rambus

Rambus Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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