Baird Financial Group Inc. Acquires New Shares in Rambus, Inc. $RMBS

Baird Financial Group Inc. bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 54,805 shares of the semiconductor company’s stock, valued at approximately $3,509,000. Baird Financial Group Inc. owned about 0.05% of Rambus at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RMBS. True Wealth Design LLC boosted its position in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 260 shares during the last quarter. Bessemer Group Inc. raised its position in Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 596 shares during the period. McIlrath & Eck LLC bought a new position in Rambus during the 1st quarter valued at about $42,000. Finally, Brooklyn Investment Group boosted its holdings in shares of Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 968 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

NASDAQ:RMBS opened at $106.84 on Thursday. Rambus, Inc. has a one year low of $40.12 and a one year high of $114.55. The business has a fifty day moving average price of $99.25 and a 200-day moving average price of $81.58. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 50.64 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.18). The company had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. Rambus’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities research analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Rambus

In related news, Director Meera Rao sold 653 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the completion of the sale, the director directly owned 29,261 shares of the company’s stock, valued at approximately $2,984,329.39. This represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $102.35, for a total transaction of $511,750.00. Following the sale, the director owned 24,394 shares in the company, valued at approximately $2,496,725.90. The trade was a 17.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,727 shares of company stock worth $1,857,555. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RMBS has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Robert W. Baird raised their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Finally, Wells Fargo & Company lifted their price objective on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Rambus currently has a consensus rating of “Buy” and a consensus price target of $108.14.

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.