Y Intercept Hong Kong Ltd raised its holdings in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 25.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,901 shares of the semiconductor company’s stock after buying an additional 7,451 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rambus were worth $3,175,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Krilogy Financial LLC lifted its position in shares of Rambus by 3.8% in the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after purchasing an additional 81 shares during the period. Oak Grove Capital LLC boosted its position in shares of Rambus by 1.3% during the fourth quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of 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 buying an additional 103 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in Rambus by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 110 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Rambus by 3.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock valued at $357,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.
Analysts Set New Price Targets
RMBS has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a report on Tuesday, April 28th. Finally, Rosenblatt Securities raised their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. One investment 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 company. According to data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average price target of $130.43.
Insiders Place Their Bets
In other Rambus news, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. This trade represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Meera Rao sold 2,972 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total value of $446,691.60. Following the transaction, the director owned 19,974 shares in the company, valued at approximately $3,002,092.20. This represents a 12.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 74,424 shares of company stock valued at $11,179,633 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
Rambus Stock Down 6.3%
NASDAQ RMBS traded down $7.17 on Tuesday, reaching $106.08. The company had a trading volume of 966,220 shares, compared to its average volume of 2,674,679. The stock has a market capitalization of $11.47 billion, a PE ratio of 50.39 and a beta of 1.84. Rambus, Inc. has a 12 month low of $61.16 and a 12 month high of $174.10. The firm’s 50 day moving average price is $135.45 and its 200 day moving average price is $113.37.
Rambus (NASDAQ:RMBS – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, research analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.
Rambus Company 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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