Castleark Management LLC Reduces Holdings in Rambus Inc. (NASDAQ:RMBS)

Castleark Management LLC cut its stake in Rambus Inc. (NASDAQ:RMBS) by 54.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,710 shares of the semiconductor company’s stock after selling 59,830 shares during the period. Castleark Management LLC’s holdings in Rambus were worth $3,134,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of RMBS. Coldstream Capital Management Inc. increased its position in shares of Rambus by 3.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after purchasing an additional 173 shares in the last quarter. Fifth Third Bancorp increased its position in 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 buying an additional 200 shares during the period. Louisiana State Employees Retirement System increased its position in Rambus by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the semiconductor company’s stock worth $1,910,000 after buying an additional 200 shares during the period. Blue Trust Inc. lifted its stake in Rambus by 100.4% in the fourth 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 boosted its holdings in shares of Rambus by 2.1% in the first quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock valued at $680,000 after acquiring an additional 229 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 9.7 %

Shares of NASDAQ RMBS traded down $4.99 during mid-day trading on Thursday, hitting $46.45. 959,895 shares of the company were exchanged, compared to its average volume of 1,475,026. The stock has a 50 day simple moving average of $58.00 and a 200-day simple moving average of $59.88. Rambus Inc. has a 1-year low of $46.33 and a 1-year high of $76.38. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 14.50 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.12). Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. During the same quarter last year, the business posted $0.36 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. Analysts anticipate that Rambus Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RMBS shares. Jefferies Financial Group reaffirmed a “buy” rating and issued 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, July 26th. One 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 presently has an average rating of “Moderate Buy” and an average target price of $77.75.

Insider Activity at Rambus

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the business’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 transaction of $307,985.60. Following the transaction, the director now owns 32,422 shares in the company, valued at approximately $1,846,432.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by insiders.

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.