Sumitomo Mitsui Trust Holdings Inc. Purchases New Shares in Rambus Inc. (NASDAQ:RMBS)

Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,596 shares of the semiconductor company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after buying an additional 616,670 shares during the period. Ameriprise Financial Inc. grew its position in Rambus by 19.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after acquiring an additional 515,657 shares during the last quarter. Bank of New York Mellon Corp grew its position in Rambus by 76.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock valued at $110,891,000 after acquiring an additional 861,427 shares during the last quarter. Northern Trust Corp grew its position in Rambus by 0.4% in the 3rd quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock valued at $84,537,000 after acquiring an additional 5,856 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its position in Rambus by 8.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,414,394 shares of the semiconductor company’s stock valued at $78,909,000 after acquiring an additional 105,281 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 1.9 %

RMBS opened at $59.23 on Friday. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The business’s fifty day simple moving average is $59.98 and its 200-day simple moving average is $62.54. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 19.74 and a beta of 1.16.

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

Analysts Set New Price Targets

Several equities analysts have commented on RMBS shares. Wells Fargo & Company upped their price objective on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.75.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 5,530 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the transaction, the chief executive officer now owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Xianzhi Sean Fan sold 2,004 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was 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 in the company, valued at approximately $6,667,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the sale, the chief executive officer now owns 262,791 shares of the company’s stock, valued at $15,415,320.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by corporate insiders.

Rambus Company 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.