Assenagon Asset Management S.A. Invests $10.09 Million in Rambus Inc. (NASDAQ:RMBS)

Assenagon Asset Management S.A. acquired a new position in shares of Rambus Inc. (NASDAQ:RMBSFree Report) in the 4th quarter, Holdings Channel reports. The fund acquired 147,798 shares of the semiconductor company’s stock, valued at approximately $10,087,000.

Several other large investors have also made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of Rambus by 2,832.8% during the 4th quarter. Pacer Advisors Inc. now owns 16,160 shares of the semiconductor company’s stock worth $1,103,000 after purchasing an additional 15,609 shares during the last quarter. Raymond James & Associates lifted its position in shares of 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 during the last quarter. Legato Capital Management LLC acquired a new position in shares of Rambus during the 4th quarter worth about $400,000. FNY Investment Advisers LLC acquired a new position in shares of Rambus during the 4th quarter worth about $197,000. Finally, SG Americas Securities LLC lifted its position in shares of Rambus by 40.5% during the 4th quarter. SG Americas Securities LLC now owns 4,157 shares of the semiconductor company’s stock worth $284,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Read Our Latest Stock Analysis on RMBS

Insider Buying and Selling

In other Rambus news, SVP John Shinn sold 3,928 shares of Rambus 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 transaction, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Shinn sold 3,928 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The disclosure for this sale can be found here. Insiders sold 85,554 shares of company stock worth $5,264,708 in the last 90 days. 1.00% of the stock is owned by company insiders.

Rambus Trading Down 2.0 %

Shares of RMBS stock opened at $61.81 on Friday. The stock has a 50 day moving average of $62.27 and a two-hundred day moving average of $62.16. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38. The company has a market capitalization of $6.71 billion, a P/E ratio of 20.60 and a beta of 1.16.

Rambus (NASDAQ:RMBSGet Free Report) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. Sell-side analysts predict that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

About Rambus

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBSFree Report).

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.