Syon Capital LLC Cuts Holdings in Rambus Inc. (NASDAQ:RMBS)

Syon Capital LLC reduced its position in Rambus Inc. (NASDAQ:RMBS) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,356 shares of the semiconductor company’s stock after selling 198 shares during the period. Syon Capital LLC’s holdings in Rambus were worth $434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. CWM LLC boosted its position in shares of Rambus by 57.7% during the 3rd quarter. CWM LLC now owns 7,032 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 2,574 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Rambus by 177.2% in the 3rd quarter. IFP Advisors Inc now owns 3,787 shares of the semiconductor company’s stock worth $211,000 after buying an additional 2,421 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Rambus in the 3rd quarter worth about $78,000. Linden Thomas Advisory Services LLC purchased a new stake in shares of Rambus during the 3rd quarter valued at about $1,204,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Rambus by 48.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,092 shares of the semiconductor company’s stock valued at $451,000 after acquiring an additional 2,642 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.75.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 5,530 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the completion of the sale, the chief executive officer now owns 262,791 shares in the company, valued at approximately $15,415,320.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,667,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total transaction of $324,389.80. Following the transaction, the chief executive officer now owns 262,791 shares in the company, valued at approximately $15,415,320.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by insiders.

Rambus Stock Performance

RMBS opened at $59.23 on Friday. The stock’s 50 day moving average price is $59.98 and its 200-day moving average price is $62.54. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 19.74 and a beta of 1.16. Rambus Inc. has a one year low of $43.58 and a one year high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, analysts predict that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

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.