Bailard Inc. Raises Stock Position in Rambus Inc. (NASDAQ:RMBS)

Bailard Inc. lifted its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 3.7% in the fourth quarter, HoldingsChannel reports. The firm owned 17,785 shares of the semiconductor company’s stock after acquiring an additional 630 shares during the period. Bailard Inc.’s holdings in Rambus were worth $1,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. boosted its position in Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 224 shares during the last quarter. Fifth Third Bancorp boosted its position in 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 acquired a new stake in Rambus during the third quarter worth approximately $39,000. GAMMA Investing LLC acquired a new stake in Rambus during the fourth quarter worth approximately $66,000. Finally, NBC Securities Inc. acquired a new stake in Rambus during the third quarter worth approximately $72,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RMBS shares. Wells Fargo & Company lifted their price target on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. One 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 company has an average rating of “Moderate Buy” and an average target price of $77.75.

Insider Activity

In other news, 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 transaction, the chief executive officer now directly owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rambus news, CEO Luc Seraphin sold 5,530 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total transaction 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 approximately $15,415,320.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total transaction of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at $6,667,595. The disclosure for this sale can be found here. In the last three months, insiders sold 121,084 shares of company stock valued at $7,408,298. Company insiders own 1.00% of the company’s stock.

Rambus Price Performance

Rambus stock traded up $1.12 during midday trading on Friday, hitting $59.24. 318,380 shares of the stock were exchanged, compared to its average volume of 1,544,213. Rambus Inc. has a 1 year low of $43.58 and a 1 year high of $76.38. The firm has a market cap of $6.43 billion, a P/E ratio of 19.66 and a beta of 1.16. The company has a 50 day moving average price of $59.92 and a two-hundred day moving average price of $62.55.

Rambus (NASDAQ:RMBS) last released 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 company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, analysts predict that Rambus Inc. will post 1.63 EPS for the current year.

Rambus Company 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.