Primecap Management Co. CA Reduces Stock Position in Rambus Inc. (NASDAQ:RMBS)

Primecap Management Co. CA reduced its position in Rambus Inc. (NASDAQ:RMBS) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,500 shares of the semiconductor company’s stock after selling 12,000 shares during the period. Primecap Management Co. CA’s holdings in Rambus were worth $4,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RMBS. Lindbrook Capital LLC lifted its holdings in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 166 shares during the period. Arizona State Retirement System boosted its holdings in shares of Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after buying an additional 202 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares during the period. Quarry LP increased its holdings in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Rambus by 7.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company’s stock worth $252,000 after acquiring an additional 317 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,952 shares of company stock worth $4,405,855 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Performance

RMBS opened at $56.96 on Thursday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 34.31 and a beta of 1.25. The company has a fifty day moving average of $59.55 and a 200 day moving average of $52.62. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMBS. StockNews.com cut Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Evercore ISI started coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Finally, Rosenblatt Securities raised their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $76.71.

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.