First Trust Direct Indexing L.P. Decreases Stock Position in Rambus Inc. (NASDAQ:RMBS)

First Trust Direct Indexing L.P. trimmed its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 48.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,931 shares of the semiconductor company’s stock after selling 2,807 shares during the period. First Trust Direct Indexing L.P.’s holdings in Rambus were worth $200,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 200 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Rambus in the third quarter worth approximately $39,000. GAMMA Investing LLC purchased a new position in shares of Rambus during the fourth quarter valued at approximately $66,000. Finally, NBC Securities Inc. bought a new position in Rambus during the third quarter valued at approximately $72,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Down 0.7 %

Rambus stock opened at $55.97 on Thursday. Rambus Inc. has a 12-month low of $46.89 and a 12-month high of $76.38. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 17.12 and a beta of 1.18. The firm has a 50 day moving average of $59.84 and a 200 day moving average of $62.44.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). Rambus had a return on equity of 16.99% and a net margin of 78.14%. The firm had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $132.00 million. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts predict that Rambus Inc. will post 1.63 EPS for the current year.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 2,004 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Rambus news, SVP John Shinn sold 3,928 shares of the 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 of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction dated Tuesday, February 20th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 126,492 shares of company stock valued at $7,716,283 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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