Erste Asset Management GmbH lifted its position in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,600 shares of the semiconductor company’s stock after purchasing an additional 5,600 shares during the period. Erste Asset Management GmbH owned about 0.05% of Rambus worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC increased its holdings in Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock worth $2,213,000 after acquiring an additional 103 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of Rambus by 5.3% during the fourth quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company’s stock worth $198,000 after buying an additional 108 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after buying an additional 110 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Rambus by 5.0% during the fourth quarter. Parallel Advisors LLC now owns 2,503 shares of the semiconductor company’s stock worth $230,000 after buying an additional 120 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Rambus by 8.2% during the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Insider Activity
In related news, Director Meera Rao sold 2,972 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares of the company’s stock, valued at $3,002,092.20. This trade represents a 12.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction on 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 sale, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 79,850 shares of company stock valued at $11,649,796. 0.75% of the stock is currently owned by company insiders.
Rambus Stock Down 3.4%
Rambus (NASDAQ:RMBS – Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, research analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.
Analyst Ratings Changes
RMBS has been the subject of a number of research reports. Rosenblatt Securities boosted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Jefferies Financial Group boosted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday. Finally, Evercore reaffirmed an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.43.
Read Our Latest Analysis on RMBS
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.
Read More
- Five stocks we like better than Rambus
- The Bank of Mom and Dad Is Booming—3 Stocks to Watch
- Corning Is Paving AI’s Future With Glass
- Why’s Amazon Suddenly Lagging the S&P 500, and Is It a Warning?
- Crypto Winter Is Here: 3 Stocks To Put On Ice This Summer
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.
