Hsbc Holdings PLC Cuts Stake in Rambus, Inc. $RMBS

Key Points

• HSBC Holdings cut its Rambus stake by 69% in the first quarter, selling 14,105 shares and retaining 6,329 shares valued at approximately $544,000. Institutional investors still own 88.54% of Rambus.
• Rambus insiders sold 62,914 shares worth approximately $9.7 million over the past 90 days, including significant sales by EVP Xianzhi Sean Fan and Director Emiko Higashi.
• Analysts remain broadly positive, with Rambus carrying a “Moderate Buy” consensus rating and an average price target of $139.78, despite the stock opening at $91.12 and trading well below its 52-week high of $174.10.

Hsbc Holdings PLC cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 69.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,329 shares of the semiconductor company's stock after selling 14,105 shares during the quarter. Hsbc Holdings PLC's holdings in Rambus were worth $544,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of Rambus in the first quarter valued at approximately $69,000. Capstone Capital Management Ltd purchased a new position in Rambus in the 1st quarter valued at $2,007,000. Oregon Public Employees Retirement Fund boosted its stake in Rambus by 2.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 22,069 shares of the semiconductor company's stock worth $1,899,000 after purchasing an additional 553 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of Rambus during the first quarter worth $329,000. Finally, Swedbank AB grew its holdings in shares of Rambus by 14.7% during the first quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company's stock worth $134,465,000 after buying an additional 200,000 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rambus

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction 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 $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,914 shares of company stock worth $9,724,775 in the last ninety days. 0.75% of the stock is owned by company insiders.

Rambus Stock Performance

Shares of RMBS stock opened at $91.12 on Friday. The firm has a market cap of $9.88 billion, a P/E ratio of 41.80 and a beta of 1.84. The firm's 50 day moving average price is $124.45 and its 200-day moving average price is $114.12. Rambus, Inc. has a one year low of $67.15 and a one year high of $174.10.

Analyst Ratings Changes

RMBS has been the subject of a number of recent research reports. Glj Research set a $165.00 price objective on shares of Rambus in a report on Tuesday. Jefferies Financial Group increased their price target on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Rosenblatt Securities reiterated a "buy" rating and set a $165.00 price objective on shares of Rambus in a research report on Tuesday. Weiss Ratings restated a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. Finally, Wells Fargo & Company lifted their price target on Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. One research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.78.

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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