Simplicity Solutions LLC Cuts Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Simplicity Solutions LLC trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,768 shares of the semiconductor company’s stock after selling 7,910 shares during the period. Simplicity Solutions LLC’s holdings in Rambus were worth $735,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RMBS. JPMorgan Chase & Co. boosted its position in Rambus by 787.6% during the first quarter. JPMorgan Chase & Co. now owns 3,756,514 shares of the semiconductor company’s stock valued at $192,560,000 after buying an additional 3,333,307 shares during the period. Norges Bank purchased a new stake in shares of Rambus during the fourth quarter worth about $41,548,000. Captrust Financial Advisors boosted its holdings in shares of Rambus by 357.1% during the fourth quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock worth $46,188,000 after purchasing an additional 1,006,772 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Rambus by 76.5% during the third quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock worth $110,891,000 after purchasing an additional 861,427 shares during the period. Finally, FMR LLC boosted its holdings in shares of Rambus by 14,267.9% during the first quarter. FMR LLC now owns 714,514 shares of the semiconductor company’s stock worth $36,626,000 after purchasing an additional 709,541 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly 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 accessible through this link. 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 transaction 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 $6,667,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $875,250.00. Following the transaction, the chief executive officer now directly owns 274,755 shares of the company’s stock, valued at approximately $16,031,954.25. The disclosure for this sale can be found here. Insiders sold 121,084 shares of company stock worth $7,408,298 over the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company increased their target price on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Rambus Price Performance

Shares of RMBS opened at $57.25 on Thursday. Rambus Inc. has a one year low of $43.58 and a one year high of $76.38. The company has a 50-day simple moving average of $60.01 and a two-hundred day simple moving average of $62.62. The firm has a market capitalization of $6.22 billion, a PE ratio of 19.08 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, topping 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. Analysts expect that Rambus Inc. will post 1.63 EPS 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.