Hsbc Holdings PLC Increases Stock Position in Rambus, Inc. $RMBS

Hsbc Holdings PLC grew its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 269.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,934 shares of the semiconductor company’s stock after acquiring an additional 59,742 shares during the period. Hsbc Holdings PLC owned about 0.08% of Rambus worth $5,212,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock valued at $4,381,000 after acquiring an additional 63,864 shares during the period. Oak Grove Capital LLC purchased a new position in Rambus during the second quarter valued at approximately $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rambus by 10.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock valued at $9,472,000 after purchasing an additional 17,282 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Rambus by 250.9% in the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock worth $870,000 after purchasing an additional 9,718 shares during the period. Finally, Park West Asset Management LLC purchased a new stake in shares of Rambus in the first quarter worth $30,503,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent analyst reports. Arete Research raised Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Arete upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Thursday, August 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Rambus in a report on Monday. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Robert W. Baird boosted their price target on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $108.14.

Insider Buying and Selling

In other news, Director Meera Rao sold 653 shares of Rambus stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the transaction, the director owned 29,261 shares of the company’s stock, valued at $2,984,329.39. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the transaction, the director directly owned 24,394 shares in the company, valued at approximately $2,496,725.90. The trade was a 17.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,227 shares of company stock worth $2,499,780 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Up 0.8%

NASDAQ:RMBS opened at $98.81 on Friday. The stock has a fifty day simple moving average of $99.18 and a 200-day simple moving average of $80.02. The company has a market cap of $10.64 billion, a price-to-earnings ratio of 46.83 and a beta of 1.51. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $114.55.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.18). The firm had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities research analysts predict that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

About Rambus

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.