Migdal Insurance & Financial Holdings Ltd. Reduces Stock Position in Rambus Inc. (NASDAQ:RMBS)

Migdal Insurance & Financial Holdings Ltd. reduced its holdings in Rambus Inc. (NASDAQ:RMBS) by 25.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,250 shares of the semiconductor company’s stock after selling 426 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Rambus were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Rambus by 1.7% during the 1st quarter. BlackRock Inc. now owns 17,864,310 shares of the semiconductor company’s stock worth $915,725,000 after purchasing an additional 295,147 shares during the period. Vanguard Group Inc. boosted its stake in shares of Rambus by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock worth $319,960,000 after purchasing an additional 314,467 shares during the period. State Street Corp boosted its stake in shares of Rambus by 3.3% during the 3rd quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock worth $123,434,000 after purchasing an additional 155,076 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after purchasing an additional 616,670 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after purchasing an additional 515,657 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RMBS shares. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company boosted their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.20.

Rambus Price Performance

Rambus stock opened at $56.46 on Friday. Rambus Inc. has a 1 year low of $43.58 and a 1 year high of $76.38. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 18.82 and a beta of 1.16. The firm has a 50-day moving average of $60.02 and a two-hundred day moving average of $62.57.

Rambus (NASDAQ:RMBS) last posted 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 business had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. Research analysts expect that Rambus Inc. will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus 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 in the company, valued at $6,667,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Rambus news, SVP John Shinn sold 3,928 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction that occurred 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 owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders have sold 121,084 shares of company stock valued at $7,408,298 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.