Handelsbanken Fonder AB raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) by 28.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,857 shares of the semiconductor company’s stock after acquiring an additional 33,060 shares during the period. Handelsbanken Fonder AB owned about 0.14% of Rambus worth $20,025,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Rambus by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after purchasing an additional 140,226 shares in the last quarter. Invesco Ltd. raised its position in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Geode Capital Management LLC raised its position in Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after purchasing an additional 94,214 shares during the period. EdgePoint Investment Group Inc. lifted its stake in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after purchasing an additional 541,056 shares during the last quarter. Finally, Norges Bank bought a new stake in Rambus in the fourth quarter worth $156,356,000. 88.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on RMBS. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird lowered 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. Evercore restated an “outperform” rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Glj Research set a $165.00 price target on Rambus in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.
Insider Activity at Rambus
In related news, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the sale, the director owned 49,519 shares in the company, 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 ninety days, insiders have sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is currently owned by corporate insiders.
Rambus Stock Performance
NASDAQ RMBS opened at $101.01 on Thursday. The stock has a market cap of $10.96 billion, a P/E ratio of 46.33 and a beta of 1.88. Rambus, Inc. has a fifty-two week low of $67.15 and a fifty-two week high of $174.10. The stock has a 50 day simple moving average of $115.55 and a two-hundred day simple moving average of $113.61.
About Rambus
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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