Hsbc Holdings PLC boosted its stake in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 60.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,434 shares of the semiconductor company’s stock after purchasing an additional 7,733 shares during the quarter. Hsbc Holdings PLC’s holdings in Rambus were worth $1,889,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of RMBS. Invesco Ltd. increased its holdings in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the period. Norges Bank acquired a new position in Rambus during the fourth quarter worth about $156,356,000. Alliancebernstein L.P. lifted its holdings in shares of Rambus by 572.7% in the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after acquiring an additional 1,551,159 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Rambus by 183.1% in the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after purchasing an additional 578,839 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Rambus
In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the 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 transaction, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director directly owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 79,850 shares of company stock valued at $11,649,796. 0.75% of the stock is owned by insiders.
Rambus Trading Up 8.0%
Rambus (NASDAQ:RMBS – Get Free Report) last announced its 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. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. On average, analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on RMBS shares. Evercore reaffirmed an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Rosenblatt Securities raised their target price 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Jefferies Financial Group upped their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.
Get Our Latest Stock Analysis on RMBS
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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