Amalgamated Bank Boosts Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Amalgamated Bank raised its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,398 shares of the semiconductor company's stock after purchasing an additional 19,705 shares during the period. Amalgamated Bank owned about 0.06% of Rambus worth $4,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RMBS. WCM Investment Management LLC increased its stake in Rambus by 38.1% during the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company's stock valued at $15,621,000 after buying an additional 62,880 shares during the period. Raymond James & Associates grew its position in Rambus by 156.0% during the 4th quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company's stock worth $2,193,000 after purchasing an additional 19,582 shares in the last quarter. Retirement Systems of Alabama acquired a new position in Rambus during the fourth quarter valued at $9,190,000. DekaBank Deutsche Girozentrale increased its stake in Rambus by 1,326.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company's stock valued at $3,186,000 after buying an additional 43,400 shares during the period. Finally, Mesirow Institutional Investment Management Inc. increased 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 worth $13,426,000 after acquiring an additional 69,895 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rambus

In related news, SVP John Shinn sold 3,928 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the completion of the sale, the senior vice president now directly owns 28,448 shares of the company's stock, valued at $1,847,128.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other 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 sale, the chief operating officer now directly owns 121,229 shares of the company's stock, valued at $6,667,595. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Shinn sold 3,928 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $64.93, for a total value of $255,045.04. Following the completion of the sale, the senior vice president now directly owns 28,448 shares of the company's stock, valued at $1,847,128.64. The disclosure for this sale can be found here. Insiders sold 126,492 shares of company stock valued at $7,716,283 in the last 90 days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

RMBS has been the topic of several research analyst reports. Rosenblatt Securities restated a "buy" rating and issued a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company boosted 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.75.

Rambus Stock Down 0.7 %

Shares of NASDAQ RMBS traded down $0.37 during trading hours on Wednesday, reaching $55.97. 584,781 shares of the stock traded hands, compared to its average volume of 1,557,792. The company has a market capitalization of $6.03 billion, a P/E ratio of 17.12 and a beta of 1.18. Rambus Inc. has a 52-week low of $46.89 and a 52-week high of $76.38. The company's 50-day simple moving average is $59.86 and its two-hundred day simple moving average is $62.48.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.14). Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company had revenue of $117.90 million for the quarter, compared to the consensus estimate of $132.00 million. During the same period last year, the business earned $0.35 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

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.