32,126 Shares in Rambus Inc. (NASDAQ:RMBS) Purchased by Van ECK Associates Corp

Van ECK Associates Corp acquired a new position in Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 32,126 shares of the semiconductor company’s stock, valued at approximately $2,193,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC lifted its holdings in Rambus by 38.1% in the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock valued at $15,621,000 after acquiring an additional 62,880 shares during the last quarter. Raymond James & Associates lifted its holdings in Rambus by 156.0% in the 4th quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock valued at $2,193,000 after acquiring an additional 19,582 shares during the last quarter. Retirement Systems of Alabama acquired a new stake in Rambus in the 4th quarter valued at about $9,190,000. DekaBank Deutsche Girozentrale lifted its holdings in Rambus by 1,326.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock valued at $3,186,000 after acquiring an additional 43,400 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. lifted its holdings in Rambus by 40.9% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock valued at $13,426,000 after acquiring an additional 69,895 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $932,550.00. Following the completion of the transaction, the chief executive officer now owns 304,755 shares in the company, valued at approximately $18,946,618.35. The disclosure for this sale can be found here. Insiders have sold 121,084 shares of company stock worth $7,408,298 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a report 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Price Performance

Shares of RMBS opened at $56.34 on Wednesday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 17.23 and a beta of 1.18. Rambus Inc. has a fifty-two week low of $46.89 and a fifty-two week high of $76.38. The business’s 50-day moving average is $59.86 and its 200-day moving average is $62.48.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 29th. The semiconductor company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. Rambus’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. Equities research analysts expect that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

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.