Knights of Columbus Asset Advisors LLC Increases Position in Rambus Inc. (NASDAQ:RMBS)

Knights of Columbus Asset Advisors LLC grew its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 136.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,497 shares of the semiconductor company's stock after purchasing an additional 53,878 shares during the period. Knights of Columbus Asset Advisors LLC owned about 0.09% of Rambus worth $6,381,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Rambus during the 1st quarter valued at about $28,000. Blue Trust Inc. boosted its stake in Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 224 shares during the period. Altshuler Shaham Ltd bought a new stake in Rambus during the 4th quarter valued at approximately $33,000. Fifth Third Bancorp boosted its stake in Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company's stock valued at $34,000 after purchasing an additional 200 shares during the period. Finally, Orion Capital Management LLC bought a new stake in Rambus during the 3rd quarter valued at approximately $39,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Down 3.2 %

RMBS stock traded down $1.78 during midday trading on Friday, reaching $54.68. 1,600,312 shares of the company's stock traded hands, compared to its average volume of 1,571,085. The company has a 50-day simple moving average of $60.02 and a two-hundred day simple moving average of $62.57. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 18.55 and a beta of 1.16. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $136.00 million for the quarter, compared to analyst estimates of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. Equities research analysts forecast that Rambus Inc. will post 1.63 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company raised their price objective on Rambus from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.20.

Insider Activity

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

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.