Handelsbanken Fonder AB Grows Position in Rambus Inc. (NASDAQ:RMBS)

Handelsbanken Fonder AB boosted its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,797 shares of the semiconductor company’s stock after purchasing an additional 4,200 shares during the period. Handelsbanken Fonder AB’s holdings in Rambus were worth $1,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Knights of Columbus Asset Advisors LLC lifted its position in Rambus by 136.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 93,497 shares of the semiconductor company’s stock valued at $6,381,000 after purchasing an additional 53,878 shares in the last quarter. Xponance Inc. lifted its position in Rambus by 144.7% during the fourth quarter. Xponance Inc. now owns 15,659 shares of the semiconductor company’s stock valued at $1,069,000 after purchasing an additional 9,260 shares in the last quarter. Federated Hermes Inc. purchased a new position in Rambus during the fourth quarter valued at $832,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Rambus in the fourth quarter valued at about $245,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Rambus in the fourth quarter valued at about $2,095,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Up 1.9 %

Shares of RMBS stock opened at $59.23 on Friday. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The stock’s 50-day moving average price is $59.98 and its 200-day moving average price is $62.56. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 19.74 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $134.00 million. As a group, research analysts predict that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Insider Transactions at Rambus

In other 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 sale, the chief operating officer now directly 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 available at the SEC website. In other Rambus news, CFO Desmond Lynch sold 7,837 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now directly owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Xianzhi Sean Fan sold 2,004 shares of the business’s 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 sale, the chief operating officer now directly owns 121,229 shares in the company, valued at $6,667,595. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RMBS has been the topic of several research analyst reports. 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 report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

About Rambus

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.