Hsbc Holdings PLC lessened its holdings in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) by 69.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,329 shares of the semiconductor company’s stock after selling 14,105 shares during the quarter. Hsbc Holdings PLC’s holdings in Rambus were worth $544,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in Rambus during the 4th quarter worth approximately $25,000. Torren Management LLC acquired a new stake in Rambus during the 4th quarter worth approximately $26,000. Spire Wealth Management boosted its position in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Rambus in the 4th quarter valued at approximately $28,000. Finally, IFP Advisors Inc grew its stake in shares of Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on RMBS shares. Wells Fargo & Company upped their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group lifted their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Finally, Benchmark reaffirmed a “buy” rating on shares of Rambus in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.78.
Insider Activity
In related news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares in the company, valued at approximately $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 62,914 shares of company stock valued at $9,724,775 over the last quarter. Company insiders own 0.75% of the company’s stock.
Rambus Stock Up 1.7%
NASDAQ RMBS opened at $91.12 on Friday. Rambus, Inc. has a 52 week low of $67.15 and a 52 week high of $174.10. The stock has a market capitalization of $9.88 billion, a PE ratio of 41.80 and a beta of 1.84. The firm has a 50 day moving average of $124.45 and a two-hundred day moving average of $114.12.
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.
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