Jennison Associates LLC Grows Position in Rambus Inc. (NASDAQ:RMBS)

Jennison Associates LLC raised its position in Rambus Inc. (NASDAQ:RMBS) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,331 shares of the semiconductor company’s stock after buying an additional 5,129 shares during the quarter. Jennison Associates LLC’s holdings in Rambus were worth $2,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RMBS. Duality Advisers LP purchased a new stake in Rambus in the 4th quarter valued at $2,268,000. Handelsbanken Fonder AB boosted its stake in shares of Rambus by 22.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,797 shares of the semiconductor company’s stock worth $1,556,000 after buying an additional 4,200 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Rambus by 136.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 93,497 shares of the semiconductor company’s stock worth $6,381,000 after buying an additional 53,878 shares during the period. Xponance Inc. grew its holdings in shares of Rambus by 144.7% during the fourth quarter. Xponance Inc. now owns 15,659 shares of the semiconductor company’s stock worth $1,069,000 after buying an additional 9,260 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Rambus in the 4th quarter valued at about $832,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the completion of the transaction, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The sale was disclosed in a filing with the SEC, which is available at this link. In other Rambus news, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now owns 28,448 shares in the company, valued at $1,847,128.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now directly owns 304,755 shares in the company, valued at approximately $18,946,618.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,084 shares of company stock valued at $7,408,298. Corporate insiders own 1.00% of the company’s stock.

Rambus Price Performance

RMBS opened at $59.23 on Friday. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38. The stock has a market capitalization of $6.43 billion, a P/E ratio of 19.74 and a beta of 1.16. The business has a 50 day simple moving average of $59.98 and a 200-day simple moving average of $62.54.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Research analysts anticipate that Rambus Inc. will post 1.63 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus 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.