EFG International AG purchased a new stake in Rambus, Inc. (NASDAQ:RMBS – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 45,149 shares of the semiconductor company’s stock, valued at approximately $5,987,000.
Other hedge funds have also bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new stake in Rambus in the 4th quarter worth about $25,000. Torren Management LLC bought a new position in shares of Rambus during the fourth quarter worth approximately $26,000. Danske Bank A S acquired a new stake in shares of Rambus in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus in the fourth quarter valued at approximately $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Rambus in the second quarter valued at approximately $41,000. 88.54% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on RMBS. Rosenblatt Securities restated a “buy” rating and set a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Jefferies Financial Group boosted their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Finally, Glj Research set a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.78.
Insiders Place Their Bets
In other Rambus news, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,000 shares of company stock valued at $3,185,750. 0.75% of the stock is currently owned by corporate insiders.
Rambus Stock Performance
Shares of RMBS stock opened at $89.86 on Wednesday. Rambus, Inc. has a fifty-two week low of $70.90 and a fifty-two week high of $174.10. The stock’s fifty day moving average price is $106.10 and its two-hundred day moving average price is $112.40. The company has a market cap of $9.75 billion, a PE ratio of 41.22 and a beta of 1.88.
Rambus (NASDAQ:RMBS – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The business had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.Rambus’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. On average, equities analysts predict that Rambus, Inc. will post 2.52 EPS for the current fiscal 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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