JPMorgan Chase & Co. Sells 2,479,074 Shares of Rambus Inc. (NASDAQ:RMBS)

JPMorgan Chase & Co. trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS) by 37.6% during the third quarter, Holdings Channel.com reports. The fund owned 4,115,395 shares of the semiconductor company’s stock after selling 2,479,074 shares during the quarter. JPMorgan Chase & Co.’s holdings in Rambus were worth $173,752,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RMBS. State Street Corp increased its position in shares of Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after acquiring an additional 164,830 shares during the last quarter. Geode Capital Management LLC grew its stake in Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares during the period. Hood River Capital Management LLC increased its position in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock valued at $127,248,000 after purchasing an additional 116,976 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Rambus by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after purchasing an additional 158,259 shares during the last quarter. Finally, Swedbank AB boosted its holdings in shares of Rambus by 12.5% in the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock worth $73,589,000 after buying an additional 193,150 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Rambus in a report on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price objective for the company. Robert W. Baird initiated coverage on shares of Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $74.67.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the sale, the director now directly owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $52.86 on Wednesday. The business’s fifty day moving average is $54.05 and its 200 day moving average is $50.27. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 32.83 and a beta of 1.22. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38.

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.