Lisanti Capital Growth LLC Buys Shares of 64,590 Rambus Inc. (NASDAQ:RMBS)

Lisanti Capital Growth LLC bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 64,590 shares of the semiconductor company’s stock, valued at approximately $4,408,000. Lisanti Capital Growth LLC owned about 0.06% of Rambus as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in 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. Fifth Third Bancorp grew its holdings in Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Rambus during the 3rd 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. acquired a new stake in Rambus during the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Insider Activity at Rambus

In other news, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the completion of the sale, the chief financial officer now directly owns 41,958 shares in the company, valued at $2,608,948.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the sale, the chief operating officer now directly owns 121,229 shares in the company, valued at $6,667,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.18, for a total value of $487,304.66. Following the sale, the chief financial officer now owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The disclosure for this sale can be found here. In the last three months, insiders sold 121,084 shares of company stock worth $7,408,298. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Shares of RMBS traded up $0.87 during trading hours on Monday, hitting $56.95. The stock had a trading volume of 1,112,310 shares, compared to its average volume of 1,574,263. The firm has a market cap of $6.14 billion, a P/E ratio of 17.42 and a beta of 1.18. The company’s fifty day simple moving average is $59.89 and its 200 day simple moving average is $62.47. Rambus Inc. has a 12-month low of $46.89 and a 12-month high of $76.38.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.14). Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Rambus Inc. will post 1.63 earnings per share 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.