Great Valley Advisor Group Inc. Takes $232,000 Position in Rambus Inc. (NASDAQ:RMBS)

Great Valley Advisor Group Inc. purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,400 shares of the semiconductor company’s stock, valued at approximately $232,000.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $110,891,000 after purchasing an additional 861,427 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Rambus by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after purchasing an additional 616,670 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Rambus during the third quarter valued at approximately $33,306,000. Ameriprise Financial Inc. boosted its position in shares of Rambus by 19.7% during the third quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after buying an additional 515,657 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Rambus by 127.9% in the 3rd quarter. Fred Alger Management LLC now owns 805,631 shares of the semiconductor company’s stock worth $44,946,000 after buying an additional 452,190 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Up 1.6 %

Shares of NASDAQ RMBS opened at $56.95 on Tuesday. Rambus Inc. has a 12 month low of $46.89 and a 12 month high of $76.38. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 17.42 and a beta of 1.18. The business has a fifty day simple moving average of $59.89 and a 200-day simple moving average of $62.47.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The firm had revenue of $117.90 million for the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. Rambus’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts expect that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John Shinn sold 3,928 shares of the 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 sale, the senior vice president now owns 28,448 shares in the company, valued at $1,847,128.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rambus news, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the transaction, the senior vice president now owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,084 shares of company stock worth $7,408,298. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RMBS. Wells Fargo & Company increased their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

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.