Rambus, Inc. $RMBS Stake Boosted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Rambus stake by 658.6% in the second quarter, owning 48,013 shares valued at approximately $6.11 million. Institutional investors and hedge funds collectively hold 88.54% of RMBS shares.
• Analysts maintain a generally positive view, with six Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $145.88.
• Rambus exceeded quarterly expectations, reporting $0.77 in earnings per share versus $0.72 expected and $207.39 million in revenue, up 20.4% year over year. The stock opened at $87.65, well below its 52-week high of $174.10.

Hsbc Holdings PLC raised its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 658.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,013 shares of the semiconductor company's stock after buying an additional 41,684 shares during the quarter. Hsbc Holdings PLC's holdings in Rambus were worth $6,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMBS. NewEdge Advisors LLC raised its holdings in shares of Rambus by 22,321.4% during 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 period. Empowered Funds LLC grew 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 worth $1,178,000 after purchasing an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 valued at $16,025,000 after purchasing an additional 19,120 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Rambus in the first quarter worth $218,000. Finally, Quantbot Technologies LP purchased a new position in shares of Rambus during the second quarter valued at $102,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMBS. Rosenblatt Securities reissued a "buy" rating and issued a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reissued a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.88.

Rambus Trading Up 0.9%

RMBS opened at $87.65 on Thursday. The stock has a fifty day moving average price of $96.66 and a 200 day moving average price of $111.13. Rambus, Inc. has a 1 year low of $75.02 and a 1 year high of $174.10. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 40.21 and a beta of 1.88.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its earnings results 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. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the firm posted $0.53 EPS. The business's revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Rambus, Inc. will post 2.52 earnings per share 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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