Rambus Inc. (NASDAQ:RMBS) Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC reduced its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,125 shares of the semiconductor company's stock after selling 91,625 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Rambus were worth $2,329,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Rambus during the 1st quarter worth approximately $230,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Rambus by 78.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company's stock worth $518,000 after buying an additional 7,142 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Rambus by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company's stock worth $1,894,000 after buying an additional 21,446 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Rambus by 0.3% during the 1st quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company's stock worth $548,492,000 after buying an additional 47,422 shares during the last quarter. Finally, Cibc World Market Inc. acquired a new stake in shares of Rambus during the 1st quarter worth approximately $575,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company increased their price objective on shares of Rambus from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.

Insider Buying and Selling at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 approximately $6,667,595. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $58.35, for a total value of $875,250.00. Following the completion of the transaction, the chief executive officer now owns 274,755 shares of the company's stock, valued at approximately $16,031,954.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the sale, the chief operating officer now directly 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 100,554 shares of company stock valued at $6,163,658 in the last 90 days. Company insiders own 1.00% of the company's stock.

Rambus Price Performance

Shares of NASDAQ:RMBS traded up $1.13 during mid-day trading on Friday, reaching $60.06. 994,041 shares of the company were exchanged, compared to its average volume of 1,412,063. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 20.02 and a beta of 1.16. The firm's 50-day simple moving average is $60.98 and its 200 day simple moving average is $62.35. Rambus Inc. has a 1 year low of $43.58 and a 1 year high of $76.38.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million during the quarter, compared to analysts' expectations of $134.00 million. On average, research analysts forecast 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.