Rhumbline Advisers increased its stake in shares of Rambus Inc. (NASDAQ:RMBS – Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 316,089 shares of the semiconductor company’s stock after purchasing an additional 11,587 shares during the quarter. Rhumbline Advisers owned about 0.29% of Rambus worth $16,203,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of RMBS. Norges Bank bought a new stake in shares of Rambus during the fourth quarter valued at approximately $41,548,000. Captrust Financial Advisors lifted its holdings in Rambus by 357.1% in the fourth quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock valued at $46,188,000 after buying an additional 1,006,772 shares during the period. Millennium Management LLC lifted its holdings in Rambus by 4,625.6% in the fourth quarter. Millennium Management LLC now owns 475,681 shares of the semiconductor company’s stock valued at $17,039,000 after buying an additional 465,615 shares during the period. Driehaus Capital Management LLC acquired a new position in Rambus in the fourth quarter valued at approximately $13,599,000. Finally, Vanguard Group Inc. lifted its holdings in Rambus by 2.6% in the third quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock valued at $319,960,000 after buying an additional 314,467 shares during the period. 86.15% of the stock is owned by institutional investors.
Insider Activity at Rambus
In other Rambus news, COO Xianzhi Sean Fan sold 17,309 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $54.99, for a total transaction of $951,821.91. Following the sale, the chief operating officer now directly owns 168,223 shares of the company’s stock, valued at approximately $9,250,582.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by insiders.
Analysts Set New Price Targets
Rambus Stock Up 0.1 %
Rambus stock opened at $56.47 on Friday. The company has a 50 day moving average of $57.73 and a 200-day moving average of $53.28. Rambus Inc. has a twelve month low of $23.84 and a twelve month high of $68.54. The stock has a market capitalization of $6.16 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.61 and a beta of 1.27.
Rambus (NASDAQ:RMBS – Get Free Report) last announced its earnings results on Monday, July 31st. The semiconductor company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $1.12. The firm had revenue of $119.80 million during the quarter, compared to analyst estimates of $137.99 million. Rambus had a net margin of 40.38% and a return on equity of 20.86%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. Equities analysts anticipate that Rambus Inc. will post 1.41 EPS for the current fiscal year.
About Rambus
Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.
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