Handelsbanken Fonder AB Raises Position in Rambus Inc. (NASDAQ:RMBS)

Handelsbanken Fonder AB boosted its stake in Rambus Inc. (NASDAQ:RMBS) by 22.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,797 shares of the semiconductor company’s stock after buying an additional 4,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rambus were worth $1,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Blue Trust Inc. lifted its stake in Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 224 shares in the last quarter. Fifth Third Bancorp lifted its stake in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Orion Capital Management LLC purchased a new position in Rambus in the 3rd quarter worth approximately $39,000. NBC Securities Inc. purchased a new position in Rambus in the 3rd quarter worth approximately $72,000. Finally, Exchange Traded Concepts LLC purchased a new position in Rambus in the 3rd quarter worth approximately $78,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RMBS shares. Wells Fargo & Company raised their target price on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $59.23 on Friday. The company has a 50 day simple moving average of $59.98 and a 200-day simple moving average of $62.56. The company has a market capitalization of $6.43 billion, a P/E ratio of 19.74 and a beta of 1.16. Rambus Inc. has a 1 year low of $43.58 and a 1 year high of $76.38.

Rambus (NASDAQ:RMBS) last announced 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. The business had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, research analysts expect that Rambus Inc. will post 1.63 EPS for the current year.

Insider Transactions at Rambus

In related news, CFO Desmond Lynch sold 7,837 shares of Rambus stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $62.18, for a total value of $487,304.66. Following the completion of the sale, the chief financial officer now owns 41,958 shares in the company, valued at approximately $2,608,948.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rambus news, CFO Desmond Lynch sold 7,837 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.18, for a total value of $487,304.66. Following the sale, the chief financial officer now owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value 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 disclosure for this sale can be found here. Insiders sold 121,084 shares of company stock worth $7,408,298 in the last 90 days. Insiders own 1.00% of the company’s stock.

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.