Rambus Inc. (NASDAQ:RMBS) Stake Boosted by Raymond James & Associates

Raymond James & Associates raised its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 156.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,137 shares of the semiconductor company's stock after purchasing an additional 19,582 shares during the quarter. Raymond James & Associates' holdings in Rambus were worth $2,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mesirow Institutional Investment Management Inc. boosted its stake in shares of Rambus by 40.9% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company's stock valued at $13,426,000 after buying an additional 69,895 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Rambus by 3.1% in the fourth quarter. Diversified Trust Co now owns 21,549 shares of the semiconductor company's stock valued at $1,471,000 after buying an additional 643 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Rambus in the third quarter valued at approximately $183,000. Schroder Investment Management Group boosted its stake in shares of Rambus by 45.1% in the third quarter. Schroder Investment Management Group now owns 303,549 shares of the semiconductor company's stock valued at $16,935,000 after buying an additional 94,378 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Rambus by 205.1% in the third quarter. Barclays PLC now owns 307,486 shares of the semiconductor company's stock valued at $17,154,000 after buying an additional 206,720 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMBS. Wells Fargo & Company lifted their price objective on Rambus from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $73.20.

Rambus Trading Down 2.5 %

Shares of NASDAQ RMBS traded down $1.47 during trading on Wednesday, reaching $57.25. The company had a trading volume of 1,298,601 shares, compared to its average volume of 1,573,166. Rambus Inc. has a twelve month low of $43.58 and a twelve month high of $76.38. The stock has a market capitalization of $6.22 billion, a PE ratio of 19.57 and a beta of 1.16. The stock has a 50-day moving average price of $59.94 and a two-hundred day moving average price of $62.65.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The company had revenue of $136.00 million during the quarter, compared to analysts' expectations of $134.00 million. On average, sell-side analysts predict that Rambus Inc. will post 1.63 EPS for the current year.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 5,530 shares of the business's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the transaction, the chief executive officer now directly owns 262,791 shares of the company's stock, valued at $15,415,320.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the sale, the chief executive officer now owns 262,791 shares of the company's stock, valued at $15,415,320.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Desmond Lynch sold 7,837 shares of Rambus stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.18, for a total value of $487,304.66. Following the completion of the sale, the chief financial officer now directly owns 41,958 shares of the company's stock, valued at approximately $2,608,948.44. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock valued at $7,408,298 over the last three months. 1.00% of the stock is currently owned by insiders.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.