Cookson Peirce & Co. Inc. acquired a new stake in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 13,607 shares of the semiconductor company’s stock, valued at approximately $1,250,000.
A number of other hedge funds also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in shares of Rambus in the third quarter worth about $1,149,000. M&T Bank Corp raised its stake in shares of Rambus by 2,372.0% in the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after buying an additional 117,675 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Rambus in the third quarter worth about $17,276,000. TD Asset Management Inc raised its stake in shares of Rambus by 463.6% in the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock worth $2,637,000 after buying an additional 20,816 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Rambus in the third quarter worth about $30,341,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently commented on RMBS. Rosenblatt Securities raised their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average target price of $130.43.
Rambus Price Performance
NASDAQ RMBS opened at $145.31 on Monday. The firm has a market cap of $15.71 billion, a price-to-earnings ratio of 69.20 and a beta of 1.84. The business has a 50-day moving average price of $125.18 and a 200-day moving average price of $108.10. Rambus, Inc. has a twelve month low of $57.12 and a twelve month high of $174.10.
Rambus (NASDAQ:RMBS – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. Research analysts expect that Rambus, Inc. will post 2.44 EPS for the current fiscal year.
Insider Transactions at Rambus
In other news, CEO Luc Seraphin sold 5,426 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total value of $470,162.90. Following the completion of the transaction, the chief executive officer owned 345,767 shares of the company’s stock, valued at $29,960,710.55. This represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the transaction, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 79,850 shares of company stock valued at $11,649,796. 0.75% of the stock is owned by corporate insiders.
Rambus Profile
Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.
Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.
See Also
- Five stocks we like better than Rambus
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus, Inc. (NASDAQ:RMBS – Free Report).
Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.
