Baird Financial Group Inc. Invests $3.51 Million in Rambus, Inc. $RMBS

Baird Financial Group Inc. bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 54,805 shares of the semiconductor company’s stock, valued at approximately $3,509,000.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in Rambus by 60.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after buying an additional 3,297,728 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rambus by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock worth $172,086,000 after buying an additional 35,744 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Rambus by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock worth $129,289,000 after buying an additional 235,253 shares in the last quarter. Norges Bank bought a new position in shares of Rambus during the second quarter worth $126,268,000. Finally, Westwood Holdings Group Inc. grew its stake in Rambus by 41.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock valued at $111,207,000 after acquiring an additional 504,852 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction on Friday, November 7th. The shares were sold at an average price of $102.35, for a total transaction of $511,750.00. Following the completion of the transaction, the director directly owned 24,394 shares of the company’s stock, valued at $2,496,725.90. The trade was a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meera Rao sold 653 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total transaction of $66,599.47. Following the completion of the sale, the director owned 29,261 shares of the company’s stock, valued at $2,984,329.39. This trade represents a 2.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,727 shares of company stock valued at $1,857,555 over the last three months. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Rambus in a research note on Tuesday, October 28th. Wells Fargo & Company lifted their target price on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Susquehanna set a $100.00 price target on Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th. Arete Research upgraded Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Finally, Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $108.14.

Rambus Price Performance

Shares of RMBS stock opened at $106.84 on Thursday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $114.55. The stock’s 50 day simple moving average is $99.25 and its two-hundred day simple moving average is $81.58. The company has a market cap of $11.50 billion, a PE ratio of 50.64 and a beta of 1.51.

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

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.