Westfield Capital Management Co. LP Sells 300,457 Shares of Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Westfield Capital Management Co. LP reduced its stake in Rambus, Inc. by 21.6%, selling 300,457 shares and holding approximately 1.01% of the company valued at $56.4 million.
• Several other institutional investors have recently taken positions in Rambus, with 88.54% of the stock owned by these investors.
• Wall Street analysts have mixed ratings on Rambus, with the consensus rating being "Buy" and a target price of around $77.71.

Westfield Capital Management Co. LP decreased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,089,081 shares of the semiconductor company's stock after selling 300,457 shares during the quarter. Westfield Capital Management Co. LP owned 1.01% of Rambus worth $56,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RMBS. Banque Cantonale Vaudoise purchased a new stake in Rambus during the 1st quarter valued at $25,000. Tsfg LLC bought a new position in shares of Rambus in the 1st quarter valued at about $26,000. Orion Capital Management LLC bought a new position in shares of Rambus during the 4th quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 794 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after buying an additional 247 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Insider Activity

In other Rambus news, Director Steven Laub sold 1,847 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction 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 trade represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Emiko Higashi sold 1,111 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,611 shares of company stock valued at $388,092. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMBS. Susquehanna upped their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Rambus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Jefferies Financial Group boosted their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Rosenblatt Securities increased their price objective on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rambus currently has an average rating of "Buy" and an average price target of $77.71.

Rambus Trading Up 0.5%

Rambus stock traded up $0.39 during mid-day trading on Thursday, hitting $71.95. 1,067,820 shares of the company's stock were exchanged, compared to its average volume of 1,431,236. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $76.20. The stock has a 50 day moving average of $64.10 and a two-hundred day moving average of $58.14. The stock has a market cap of $7.74 billion, a P/E ratio of 33.94 and a beta of 1.28.

Rambus Company 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.