First Trust Direct Indexing L.P. Lowers Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

First Trust Direct Indexing L.P. cut its holdings in Rambus Inc. (NASDAQ:RMBS) by 48.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,931 shares of the semiconductor company’s stock after selling 2,807 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Rambus were worth $200,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RMBS. WCM Investment Management LLC increased its holdings in Rambus by 38.1% in the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock worth $15,621,000 after acquiring an additional 62,880 shares in the last quarter. Raymond James & Associates increased its stake in shares of Rambus by 156.0% during the fourth quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock worth $2,193,000 after purchasing an additional 19,582 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Rambus during the fourth quarter worth about $9,190,000. DekaBank Deutsche Girozentrale raised its position in shares of Rambus by 1,326.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock worth $3,186,000 after purchasing an additional 43,400 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its stake in Rambus by 40.9% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock valued at $13,426,000 after buying an additional 69,895 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the sale, the chief executive officer now owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at $6,667,595. The disclosure for this sale can be found here. Insiders sold 126,492 shares of company stock valued at $7,716,283 in the last three months. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RMBS shares. Wells Fargo & Company boosted their price objective on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Price Performance

RMBS opened at $55.97 on Thursday. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 17.12 and a beta of 1.18. The company’s 50 day simple moving average is $59.84 and its two-hundred day simple moving average is $62.44. Rambus Inc. has a 1-year low of $46.89 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.14). The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. Rambus’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. On average, equities analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current fiscal 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.