Jennison Associates LLC Buys 6,123 Shares of Rambus Inc. (NASDAQ:RMBS)

Jennison Associates LLC increased its stake in Rambus Inc. (NASDAQ:RMBSFree Report) by 17.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,454 shares of the semiconductor company’s stock after purchasing an additional 6,123 shares during the period. Jennison Associates LLC’s holdings in Rambus were worth $2,500,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RMBS. Diversified Trust Co raised its position in shares of Rambus by 2.5% during the third quarter. Diversified Trust Co now owns 20,906 shares of the semiconductor company’s stock worth $1,166,000 after acquiring an additional 518 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Rambus by 9.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,147 shares of the semiconductor company’s stock worth $287,000 after purchasing an additional 454 shares during the last quarter. SG Americas Securities LLC lifted its position in Rambus by 40.5% during the 4th quarter. SG Americas Securities LLC now owns 4,157 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 1,199 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Rambus in the 4th quarter valued at about $197,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Rambus during the 4th quarter worth approximately $400,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Rambus in a report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

View Our Latest Analysis on Rambus

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 5,530 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the transaction, the chief executive officer now directly owns 262,791 shares in the company, valued at approximately $15,415,320.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 262,791 shares in the company, valued at $15,415,320.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric B. Stang sold 5,408 shares of the 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 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. 1.00% of the stock is currently owned by insiders.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $63.88 on Wednesday. The company has a 50 day moving average price of $56.83 and a two-hundred day moving average price of $60.60. The company has a market capitalization of $6.88 billion, a PE ratio of 19.54 and a beta of 1.20. Rambus Inc. has a 52 week low of $48.13 and a 52 week high of $76.38.

Rambus (NASDAQ:RMBSGet Free Report) last released its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $133.60 million during the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. On average, sell-side analysts forecast that Rambus Inc. will post 1.36 earnings per share for the current year.

About Rambus

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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