Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 156.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,137 shares of the semiconductor company’s stock after purchasing an additional 19,582 shares during the quarter. Raymond James & Associates’ holdings in Rambus were worth $2,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its position in Rambus by 0.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 31,193 shares of the semiconductor company’s stock worth $1,740,000 after purchasing an additional 220 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in Rambus by 3.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,749 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 221 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Rambus by 15.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,676 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 227 shares during the last quarter. Advisor Partners II LLC increased its position in Rambus by 2.5% during the first quarter. Advisor Partners II LLC now owns 11,028 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 274 shares during the last quarter. Finally, Guidance Capital Inc. increased its position in Rambus by 6.0% during the third quarter. Guidance Capital Inc. now owns 5,151 shares of the semiconductor company’s stock worth $282,000 after purchasing an additional 293 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity at Rambus

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rambus news, SVP John Shinn sold 3,928 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the transaction, the senior vice president now directly owns 28,448 shares in the company, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 121,229 shares in the company, valued at $6,667,595. The disclosure for this sale can be found here. In the last three months, insiders sold 115,554 shares of company stock valued at $7,083,908. Corporate insiders own 1.00% of the company’s stock.

Rambus Trading Down 0.5 %

RMBS opened at $58.72 on Wednesday. The company has a fifty day simple moving average of $59.94 and a 200 day simple moving average of $62.65. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 19.57 and a beta of 1.16. Rambus Inc. has a twelve month low of $43.58 and a twelve month high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. On average, analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Rambus 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.