Rambus Inc. (NASDAQ:RMBS) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lowered its position in shares of Rambus Inc. (NASDAQ:RMBS) by 13.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 510,518 shares of the semiconductor company’s stock after selling 82,344 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.47% of Rambus worth $31,555,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RMBS. Coldstream Capital Management Inc. boosted its holdings in shares of Rambus by 3.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 173 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Rambus by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the semiconductor company’s stock worth $1,910,000 after purchasing an additional 200 shares during the period. Blue Trust Inc. raised its stake 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 last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Rambus by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock valued at $680,000 after buying an additional 229 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on RMBS shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price (up from $72.00) on shares of Rambus in a report on Monday, May 13th. Susquehanna dropped their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Insider Transactions at Rambus

In related 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 of the company’s stock, valued at approximately $1,846,432.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Rambus Price Performance

RMBS stock traded down $6.46 during mid-day trading on Tuesday, reaching $49.37. 2,018,769 shares of the company’s stock were exchanged, compared to its average volume of 1,456,383. Rambus Inc. has a 12-month low of $48.13 and a 12-month high of $76.38. The stock’s 50 day moving average is $58.36 and its 200 day moving average is $60.06. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 15.61 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The business had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. On average, research analysts forecast that Rambus Inc. will post 1.36 earnings per share for the current fiscal year.

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.