Los Angeles Capital Management LLC Sells 7,133 Shares of Rambus Inc. (NASDAQ:RMBS)

Los Angeles Capital Management LLC decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 24.7% during the first quarter, HoldingsChannel reports. The firm owned 21,702 shares of the semiconductor company’s stock after selling 7,133 shares during the period. Los Angeles Capital Management LLC’s holdings in Rambus were worth $1,341,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RMBS. DekaBank Deutsche Girozentrale bought a new position in Rambus in the third quarter worth approximately $183,000. Mariner LLC lifted its stake in shares of Rambus by 5.4% during the 3rd quarter. Mariner LLC now owns 10,723 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 548 shares during the last quarter. Northern Trust Corp boosted its position in Rambus by 0.4% during the third quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock valued at $84,537,000 after purchasing an additional 5,856 shares in the last quarter. Covestor Ltd grew its stake in Rambus by 50.6% in the third quarter. Covestor Ltd now owns 1,455 shares of the semiconductor company’s stock valued at $81,000 after purchasing an additional 489 shares during the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Rambus by 3.1% in the third quarter. Natixis Advisors L.P. now owns 246,343 shares of the semiconductor company’s stock worth $13,743,000 after purchasing an additional 7,375 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average price target of $80.00.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 15,000 shares of the firm’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 transaction, the chief executive officer now directly owns 259,755 shares in the company, valued at $16,284,040.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $62.69, for a total value of $940,350.00. Following the sale, the chief executive officer now owns 259,755 shares in the company, valued at $16,284,040.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction 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 directly owns 32,422 shares of the company’s stock, valued at approximately $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 insiders.

Rambus Trading Down 0.1 %

NASDAQ:RMBS opened at $54.51 on Monday. Rambus Inc. has a twelve month low of $48.13 and a twelve month high of $76.38. The company has a market cap of $5.88 billion, a PE ratio of 16.67 and a beta of 1.19. The company’s 50 day moving average is $56.59 and its two-hundred day moving average is $61.31.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The firm 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 EPS 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.