Great Lakes Advisors LLC Cuts Position in Rambus Inc. (NASDAQ:RMBS)

Great Lakes Advisors LLC trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,655 shares of the semiconductor company’s stock after selling 307 shares during the period. Great Lakes Advisors LLC’s holdings in Rambus were worth $591,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 224 shares during the period. Fifth Third Bancorp lifted its position in shares of Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Rambus in the third quarter valued at $39,000. GAMMA Investing LLC acquired a new stake in Rambus during the 4th quarter valued at $66,000. Finally, NBC Securities Inc. purchased a new stake in Rambus during the 3rd quarter worth $72,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. Wells Fargo & Company raised their price objective on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Insider Buying and Selling at Rambus

In other news, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the transaction, the director now directly owns 32,422 shares in the company, valued at approximately $1,846,432.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total value of $307,985.60. Following the sale, the director now owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the transaction, the chief executive officer now owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The disclosure for this sale can be found here. Insiders sold a total of 124,488 shares of company stock worth $7,606,063 over the last 90 days. Insiders own 1.00% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $59.30 on Thursday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 18.13 and a beta of 1.18. Rambus Inc. has a one year low of $48.13 and a one year high of $76.38. The stock has a 50-day simple moving average of $58.89 and a 200 day simple moving average of $62.77.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $133.60 million during 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%. On average, equities research analysts forecast that Rambus Inc. will post 1.36 EPS for the current fiscal year.

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.