JPMorgan Chase & Co. Cuts Stock Position in Rambus, Inc. $RMBS

Key Points

• JPMorgan Chase & Co. has sold 536,964 shares of Rambus, Inc., reducing its holdings by 12.8%, leaving it with approximately 3.4% of the company's shares, valued at about $188.8 million.
• Institutional ownership in Rambus is strong, with 88.54% of the stock held by various investors including notable increases by Wells Fargo and Envestnet Asset Management.
• Analyst ratings for Rambus are mixed, with recent downgrades and price target adjustments, reflecting a consensus average rating of "Buy" and a price target of $77.71.

JPMorgan Chase & Co. lessened its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,647,406 shares of the semiconductor company's stock after selling 536,964 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.40% of Rambus worth $188,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after acquiring an additional 4,445,146 shares during the period. Northern Trust Corp lifted its holdings in Rambus by 13.2% during the fourth quarter. Northern Trust Corp now owns 1,463,338 shares of the semiconductor company's stock worth $77,352,000 after acquiring an additional 170,884 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Rambus by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock worth $65,047,000 after acquiring an additional 6,600 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Rambus by 9.3% during the first quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock worth $63,798,000 after acquiring an additional 104,356 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in Rambus by 38.5% during the first quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock worth $62,107,000 after acquiring an additional 333,538 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Susquehanna lifted their price target on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities boosted their target price on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Jefferies Financial Group boosted their target price on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rambus has an average rating of "Buy" and an average target price of $77.71.

Rambus Trading Up 1.3%

Shares of NASDAQ RMBS traded up $1.00 during mid-day trading on Monday, hitting $75.21. The company had a trading volume of 199,432 shares, compared to its average volume of 1,051,450. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 35.50 and a beta of 1.28. Rambus, Inc. has a 1 year low of $37.42 and a 1 year high of $78.16. The stock's 50-day moving average price is $66.37 and its 200-day moving average price is $58.65.

Insider Activity

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the transaction, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the transaction, the director owned 9,057 shares in the company, valued at $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,533 shares of company stock worth $820,188. 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.