Jackson Square Partners LLC Trims Holdings in Rambus Inc. (NASDAQ:RMBS)

Jackson Square Partners LLC lessened its stake in Rambus Inc. (NASDAQ:RMBS) by 52.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,318 shares of the semiconductor company’s stock after selling 34,949 shares during the period. Jackson Square Partners LLC’s holdings in Rambus were worth $1,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RMBS. Vanguard Group Inc. lifted its holdings in Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after buying an additional 31,645 shares during the last quarter. State Street Corp lifted its stake in Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after purchasing an additional 164,830 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Rambus by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock worth $110,693,000 after purchasing an additional 21,053 shares during the period. Swedbank AB increased its stake in Rambus by 12.5% during the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after purchasing an additional 193,150 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Rambus by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock worth $66,062,000 after purchasing an additional 5,761 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,952 shares of company stock worth $4,405,855 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Rambus Price Performance

RMBS opened at $58.87 on Tuesday. The stock’s 50 day moving average price is $59.62 and its 200 day moving average price is $53.04. The stock has a market cap of $6.33 billion, a P/E ratio of 35.46 and a beta of 1.25. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Susquehanna raised their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Finally, Rosenblatt Securities increased their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.71.

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.