Wellington Management Group LLP Purchases 2,149,396 Shares of Rambus Inc. (NASDAQ:RMBS)

Wellington Management Group LLP grew its position in Rambus Inc. (NASDAQ:RMBS) by 120.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,933,923 shares of the semiconductor company’s stock after acquiring an additional 2,149,396 shares during the quarter. Wellington Management Group LLP owned 3.65% of Rambus worth $268,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Rambus during the 4th quarter valued at $84,756,000. JPMorgan Chase & Co. boosted its holdings in Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after acquiring an additional 616,670 shares during the period. Ameriprise Financial Inc. grew its position in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after buying an additional 515,657 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Rambus by 127.9% during the 3rd quarter. Fred Alger Management LLC now owns 805,631 shares of the semiconductor company’s stock worth $44,946,000 after buying an additional 452,190 shares in the last quarter. Finally, Cercano Management LLC bought a new position in shares of Rambus during the 4th quarter worth $21,853,000. Institutional investors own 88.54% of the company’s stock.

Insider Activity at Rambus

In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00. Following the sale, the chief executive officer now owns 259,755 shares in the company, valued at approximately $16,284,040.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $62.69, for a total value of $940,350.00. Following the completion of the sale, the chief executive officer now directly owns 259,755 shares of the company’s stock, valued at approximately $16,284,040.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the sale, the director now directly owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,885 shares of company stock worth $3,639,442. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RMBS shares. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $56.72 on Wednesday. The business’s 50 day moving average price is $56.92 and its 200-day moving average price is $61.50. The firm has a market capitalization of $6.11 billion, a PE ratio of 17.35 and a beta of 1.19. Rambus Inc. has a 1 year low of $48.13 and a 1 year high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Rambus had a return on equity of 16.99% and a net margin of 78.14%. The company had revenue of $133.60 million for the quarter, compared to analyst estimates of $132.00 million. As a group, analysts expect that Rambus Inc. will post 1.36 earnings per share for the current 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.