Rambus, Inc. $RMBS Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Rambus, Inc. (NASDAQ:RMBS) by 19.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,556,838 shares of the semiconductor company’s stock after selling 623,538 shares during the quarter. JPMorgan Chase & Co. owned about 2.38% of Rambus worth $266,423,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Rambus in the third quarter valued at about $25,000. True Wealth Design LLC boosted its holdings in Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Abound Wealth Management purchased a new stake in shares of Rambus in the 3rd quarter valued at approximately $28,000. Bessemer Group Inc. increased its holdings in shares of Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 0.2%

RMBS opened at $104.13 on Friday. The stock’s 50-day moving average price is $101.93 and its 200 day moving average price is $95.41. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 49.35 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The company had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, research analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on RMBS. William Blair initiated coverage on Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Susquehanna decreased their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Finally, Cfra cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and a consensus price target of $105.71.

Rambus Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.