Rambus Inc. (NASDAQ:RMBS) Stake Lowered by Jackson Square Partners LLC

Jackson Square Partners LLC trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS) by 52.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 31,318 shares of the semiconductor company’s stock after selling 34,949 shares during the quarter. Jackson Square Partners LLC’s holdings in Rambus were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RMBS. Raymond James Financial Inc. acquired a new position in Rambus in the 4th quarter worth about $51,500,000. Congress Asset Management Co. acquired a new position in Rambus during the 4th quarter worth $45,778,000. SG Americas Securities LLC boosted its holdings in Rambus by 1,657.4% during the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after acquiring an additional 520,754 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Rambus in the third quarter valued at about $18,984,000. Finally, Westfield Capital Management Co. LP increased its stake in shares of Rambus by 65.3% in the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock worth $38,092,000 after purchasing an additional 356,496 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on RMBS shares. Baird R W raised Rambus to a “strong-buy” rating in a report on Monday, November 25th. Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus target price of $76.71.

Rambus Trading Up 3.8 %

Shares of RMBS opened at $58.87 on Tuesday. The stock has a market cap of $6.33 billion, a PE ratio of 35.46 and a beta of 1.25. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The stock has a 50 day simple moving average of $59.62 and a 200-day simple moving average of $53.04.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares in the company, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,952 shares of company stock worth $4,405,855 over the last three months. Company insiders own 1.00% of the company’s stock.

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.