Rambus Inc. (NASDAQ:RMBS) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lessened its holdings in Rambus Inc. (NASDAQ:RMBS) by 25.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,250 shares of the semiconductor company’s stock after selling 426 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rambus were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Rambus by 1.7% in the first quarter. BlackRock Inc. now owns 17,864,310 shares of the semiconductor company’s stock worth $915,725,000 after purchasing an additional 295,147 shares during the period. Vanguard Group Inc. raised its stake in shares of Rambus by 2.6% during the third quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock valued at $319,960,000 after purchasing an additional 314,467 shares in the last quarter. State Street Corp raised its stake in shares of Rambus by 3.3% during the third quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock valued at $123,434,000 after purchasing an additional 155,076 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rambus by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after purchasing an additional 616,670 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Rambus by 19.7% during the third quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after purchasing an additional 515,657 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

RMBS has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company lifted their target price on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Rambus Trading Down 1.4 %

Shares of RMBS opened at $56.46 on Friday. The business’s 50-day moving average price is $60.02 and its 200 day moving average price is $62.57. The stock has a market capitalization of $6.13 billion, a P/E ratio of 18.82 and a beta of 1.16. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. On average, research analysts predict that Rambus Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus 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 transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus 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 transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the transaction, the senior vice president now directly owns 28,448 shares in the company, valued at approximately $1,847,128.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is owned by corporate insiders.

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.