Hsbc Holdings PLC Takes $6.11 Million Position in Rambus, Inc. $RMBS

Key Points

• HSBC acquired a new $6.11 million stake in Rambus during the second quarter, purchasing 48,013 shares. Institutional investors collectively own 88.54% of RMBS.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $145.88; six analysts rate the stock Buy and four rate it Hold.
• Rambus exceeded quarterly expectations, reporting $0.77 in EPS versus $0.72 expected and revenue of $207.39 million, up 20.4% year over year. However, insiders sold 20,000 shares worth approximately $3.19 million during the last quarter.

Hsbc Holdings PLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 48,013 shares of the semiconductor company's stock, valued at approximately $6,110,000.

Other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company's stock valued at $488,000 after acquiring an additional 9,375 shares during the last quarter. Empowered Funds LLC increased its position in Rambus by 34.1% during the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock valued at $1,178,000 after purchasing an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Rambus by 6.6% during 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 purchasing an additional 19,120 shares during the last quarter. Acadian Asset Management LLC bought a new position in Rambus during the 1st quarter worth approximately $218,000. Finally, Quantbot Technologies LP bought a new position in Rambus during the 2nd quarter worth approximately $102,000. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a research note on Friday, June 5th. Benchmark reiterated a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Glj Research set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Rambus presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.88.

Rambus Price Performance

NASDAQ RMBS opened at $85.76 on Friday. The stock has a market capitalization of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88. The business has a 50 day simple moving average of $103.19 and a 200 day simple moving average of $112.04. Rambus, Inc. has a one year low of $70.90 and a one year high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company's revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Equities analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current year.

Insider Activity

In related news, Director Eric B. Stang sold 5,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the business's stock in a transaction 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 transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,000 shares of company stock worth $3,185,750 in the last quarter. 0.75% of the stock is owned by corporate insiders.

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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