Cercano Management LLC bought a new position in Rambus Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 320,184 shares of the semiconductor company's stock, valued at approximately $21,853,000. Cercano Management LLC owned 0.30% of Rambus at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in Rambus by 100.4% in the fourth 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. Fifth Third Bancorp increased its position in shares of Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company's stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Rambus during the third quarter worth about $39,000. GAMMA Investing LLC purchased a new stake in shares of Rambus during the fourth quarter worth about $66,000. Finally, NBC Securities Inc. purchased a new stake in shares of Rambus during the third quarter worth about $72,000. 88.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Rambus from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Rambus presently has an average rating of "Moderate Buy" and an average target price of $77.75.
Check Out Our Latest Stock Analysis on Rambus
Rambus Price Performance
NASDAQ:RMBS traded up $1.11 during mid-day trading on Friday, reaching $59.23. The stock had a trading volume of 1,329,199 shares, compared to its average volume of 1,135,415. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 19.74 and a beta of 1.16. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38. The stock's 50 day simple moving average is $59.98 and its two-hundred day simple moving average is $62.57.
Rambus (NASDAQ:RMBS - Get Free Report) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating 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 the consensus estimate of $134.00 million. Sell-side analysts anticipate that Rambus Inc. will post 1.63 EPS for the current fiscal year.
Insider Buying and Selling at Rambus
In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now directly owns 121,229 shares in the company, valued at $6,667,595. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the sale, the senior vice president now owns 28,448 shares of the company's stock, valued at $1,847,128.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the sale, the chief operating officer now directly owns 121,229 shares in the company, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock worth $7,408,298 over the last ninety days. Company insiders own 1.00% of the company's stock.
Rambus Company Profile
(
Free Report)
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.
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