Leonteq Securities AG Purchases 6,716 Shares of Rambus, Inc. $RMBS

Leonteq Securities AG raised its position in shares of Rambus, Inc. (NASDAQ:RMBSFree Report) by 20,351.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,749 shares of the semiconductor company’s stock after purchasing an additional 6,716 shares during the quarter. Leonteq Securities AG’s holdings in Rambus were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RMBS. NewEdge Advisors LLC raised its position in shares of Rambus by 22,321.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after purchasing an additional 9,375 shares during the period. Empowered Funds LLC boosted its holdings in Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after buying an additional 19,120 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Rambus in the 1st quarter worth $218,000. Finally, Quantbot Technologies LP bought a new stake in Rambus during the second quarter valued at about $102,000. 88.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Rosenblatt Securities lifted their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Jefferies Financial Group boosted their price target on 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 downgraded 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 issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Rambus presently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Get Our Latest Report on RMBS

Rambus Stock Performance

RMBS stock opened at $112.92 on Friday. The firm has a fifty day moving average price of $135.95 and a 200 day moving average price of $113.11. Rambus, Inc. has a fifty-two week low of $61.16 and a fifty-two week high of $174.10. The firm has a market cap of $12.21 billion, a PE ratio of 53.77 and a beta of 1.84.

Rambus (NASDAQ:RMBSGet Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. On average, equities analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.

Insider Transactions at Rambus

In related news, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director directly owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 74,424 shares of company stock worth $11,179,633. 0.75% of the stock is currently owned by corporate insiders.

Rambus Profile

(Free Report)

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

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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