Meritage Portfolio Management Purchases 684 Shares of Rambus Inc. (NASDAQ:RMBS)

Meritage Portfolio Management lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 5.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,290 shares of the semiconductor company’s stock after acquiring an additional 684 shares during the quarter. Meritage Portfolio Management’s holdings in Rambus were worth $907,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RMBS. Blue Trust Inc. increased its holdings in Rambus by 100.4% in the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Rambus during the third quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new position in shares of Rambus during the fourth quarter valued at approximately $66,000. Finally, NBC Securities Inc. purchased a new position in shares of Rambus during the third quarter valued at approximately $72,000. 88.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Stock Up 2.4 %

Shares of NASDAQ:RMBS traded up $1.41 during trading on Friday, hitting $59.53. The stock had a trading volume of 643,968 shares, compared to its average volume of 1,548,150. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38. The company has a market capitalization of $6.46 billion, a PE ratio of 19.66 and a beta of 1.16. The firm’s fifty day moving average is $59.92 and its 200 day moving average is $62.55.

Rambus (NASDAQ:RMBS) last released 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 firm had revenue of $136.00 million for the quarter, compared to the consensus estimate of $134.00 million. Equities research analysts expect that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling at Rambus

In related news, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. In related news, 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 transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at $6,667,595. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Shinn sold 3,928 shares of the company’s 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 transaction, the senior vice president now directly owns 28,448 shares in the company, valued at $1,847,128.64. The disclosure for this sale can be found here. Insiders have sold a total of 121,084 shares of company stock valued at $7,408,298 over the last ninety days. 1.00% of the stock is currently owned by company 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.