Y Intercept Hong Kong Ltd Boosts Stock Position in Rambus, Inc. $RMBS

Y Intercept Hong Kong Ltd boosted its position in Rambus, Inc. (NASDAQ:RMBS) by 25.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,901 shares of the semiconductor company’s stock after purchasing an additional 7,451 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rambus were worth $3,175,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RMBS. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus in the 4th quarter worth approximately $25,000. Torren Management LLC acquired a new stake in Rambus in the 4th quarter worth approximately $26,000. Spire Wealth Management increased its position in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Rambus in the 4th quarter worth $28,000. Finally, IFP Advisors Inc lifted its position in Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Down 6.3%

NASDAQ:RMBS traded down $7.17 during trading hours on Tuesday, reaching $106.08. 966,220 shares of the company were exchanged, compared to its average volume of 2,674,679. The stock’s 50-day moving average is $135.45 and its 200-day moving average is $113.37. Rambus, Inc. has a twelve month low of $61.16 and a twelve month high of $174.10. The firm has a market cap of $11.47 billion, a PE ratio of 50.39 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. As a group, research analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group raised their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities upped their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Rambus currently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Buying and Selling

In related news, Director Meera Rao sold 2,972 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares in the company, valued at approximately $3,002,092.20. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 74,424 shares of company stock worth $11,179,633 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.