Truist Financial Corp Grows Stock Holdings in Rambus, Inc. $RMBS

Truist Financial Corp raised its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 795.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,033 shares of the semiconductor company’s stock after buying an additional 23,127 shares during the quarter. Truist Financial Corp’s holdings in Rambus were worth $2,392,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RMBS. Hussman Strategic Advisors Inc. purchased a new stake in shares of Rambus during the 3rd quarter valued at $1,094,000. Nordea Investment Management AB lifted its holdings in shares of Rambus by 101.7% during the 3rd quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company’s stock valued at $14,669,000 after purchasing an additional 70,314 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Rambus during the 3rd quarter valued at $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Rambus by 57.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock valued at $5,464,000 after purchasing an additional 19,046 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Rambus by 2,372.0% during the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after purchasing an additional 117,675 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on RMBS shares. William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. Evercore reaffirmed an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Rosenblatt Securities increased their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.43.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 61,123 shares of company stock worth $6,295,577. Insiders own 0.75% of the company’s stock.

Rambus Trading Up 3.5%

RMBS opened at $134.85 on Thursday. Rambus, Inc. has a 12-month low of $52.12 and a 12-month high of $161.80. The firm has a market capitalization of $14.58 billion, a PE ratio of 64.21 and a beta of 1.79. The firm has a 50 day moving average of $107.15 and a two-hundred day moving average of $103.22.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. As a group, analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.