EdgePoint Investment Group Inc. Boosts Position in Rambus, Inc. $RMBS

EdgePoint Investment Group Inc. raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 138.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,787,327 shares of the semiconductor company’s stock after buying an additional 1,618,133 shares during the period. Rambus comprises 1.3% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 20th largest position. EdgePoint Investment Group Inc. owned 2.59% of Rambus worth $178,445,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 260 shares during the period. Bessemer Group Inc. increased its holdings in Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares in the last quarter. Hantz Financial Services Inc. raised its position in Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 596 shares during the period. McIlrath & Eck LLC acquired a new position in shares of Rambus during the first quarter worth about $42,000. Finally, Brooklyn Investment Group boosted its position in shares of Rambus by 19,360.0% in the first quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after buying an additional 968 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Down 11.1%

Shares of RMBS opened at $94.23 on Friday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 44.66 and a beta of 1.51. The business’s 50 day moving average is $99.18 and its two-hundred day moving average is $82.04. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $114.55.

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

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the sale, the director owned 24,394 shares of the company’s stock, valued at approximately $2,496,725.90. The trade was a 17.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Desmond Lynch sold 9,074 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the sale, the chief financial officer owned 64,430 shares in the company, valued at approximately $5,908,231. This trade represents a 12.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,727 shares of company stock valued at $1,857,555 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Robert W. Baird increased their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research note on Tuesday, October 28th. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $108.14.

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.