Contravisory Investment Management Inc. Has $467,000 Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Contravisory Investment Management Inc. decreased its position in Rambus Inc. (NASDAQ:RMBS) by 10.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,561 shares of the semiconductor company’s stock after selling 898 shares during the period. Contravisory Investment Management Inc.’s holdings in Rambus were worth $467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Rambus in the 1st quarter valued at $28,000. Blue Trust Inc. boosted its position in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares during the period. Fifth Third Bancorp grew its holdings in shares of Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Rambus in the 3rd quarter valued at approximately $39,000. Finally, GAMMA Investing LLC acquired a new position in Rambus during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 5,408 shares of the business’s stock in a transaction 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 owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the 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 completion of the sale, the chief executive officer now directly 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 accessible through this hyperlink. Also, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction that occurred on 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 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. Insiders sold 59,885 shares of company stock worth $3,639,442 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $54.51 on Monday. Rambus Inc. has a 52 week low of $48.13 and a 52 week high of $76.38. The stock’s fifty day moving average is $56.59 and its 200 day moving average is $61.31. The stock has a market capitalization of $5.88 billion, a P/E ratio of 16.67 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results 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. The company had revenue of $133.60 million during the quarter, compared to the consensus estimate of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. Equities research analysts forecast that Rambus Inc. will post 1.36 earnings per share for the current year.

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.