Vanguard Group Inc. Sells 1,394,902 Shares of Rambus Inc. (NASDAQ:RMBS)

Vanguard Group Inc. reduced its stake in Rambus Inc. (NASDAQ:RMBS) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,375,954 shares of the semiconductor company’s stock after selling 1,394,902 shares during the period. Vanguard Group Inc. owned approximately 10.54% of Rambus worth $776,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of Rambus by 13.1% during the 3rd quarter. Deutsche Bank AG now owns 69,576 shares of the semiconductor company’s stock valued at $3,882,000 after acquiring an additional 8,037 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Rambus during the third quarter worth about $183,000. Mariner LLC increased its holdings in Rambus by 5.4% in the 3rd quarter. Mariner LLC now owns 10,723 shares of the semiconductor company’s stock valued at $598,000 after buying an additional 548 shares during the period. Northern Trust Corp raised its position in shares of Rambus by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock valued at $84,537,000 after buying an additional 5,856 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Rambus by 50.6% during the 3rd quarter. Covestor Ltd now owns 1,455 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 489 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Rambus news, 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 completion of the transaction, the director now directly owns 32,422 shares in the company, valued at approximately $1,846,432.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rambus news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total value of $307,985.60. Following the sale, the director now owns 32,422 shares in the company, valued at approximately $1,846,432.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 5,530 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the sale, the chief executive officer now directly owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The disclosure for this sale can be found here. Insiders have sold a total of 59,885 shares of company stock worth $3,639,442 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $54.51 on Friday. Rambus Inc. has a 52-week low of $48.13 and a 52-week high of $76.38. The company has a market capitalization of $5.88 billion, a PE ratio of 16.67 and a beta of 1.19. The company has a fifty day moving average of $56.59 and a 200-day moving average of $61.33.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.38 earnings per share (EPS) 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 business had revenue of $133.60 million during the quarter, compared to analysts’ expectations of $132.00 million. On average, equities analysts forecast that Rambus Inc. will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RMBS shares. Rosenblatt Securities reissued a “buy” rating and issued 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 issued a $75.00 price target (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. One investment 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, the company has an average rating of “Moderate Buy” and an average price target of $80.00.

About Rambus

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.