Hsbc Holdings PLC Acquires 7,733 Shares of Rambus, Inc. $RMBS

Hsbc Holdings PLC raised its stake in Rambus, Inc. (NASDAQ:RMBS) by 60.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,434 shares of the semiconductor company’s stock after acquiring an additional 7,733 shares during the period. Hsbc Holdings PLC’s holdings in Rambus were worth $1,889,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after acquiring an additional 140,226 shares during the last quarter. Invesco Ltd. increased its holdings in Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC raised its position in Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares during the last quarter. Alliancebernstein L.P. raised its position in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after purchasing an additional 1,551,159 shares during the last quarter. Finally, Norges Bank acquired a new position in Rambus in the fourth quarter worth $156,356,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value 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. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This represents a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 74,424 shares of company stock valued at $11,179,633. 0.75% of the stock is currently owned by insiders.

Rambus Price Performance

Shares of Rambus stock traded down $2.03 during trading hours on Friday, hitting $112.10. The company’s stock had a trading volume of 1,910,616 shares, compared to its average volume of 3,523,518. The company has a market capitalization of $12.12 billion, a PE ratio of 53.38 and a beta of 1.84. The stock has a 50 day moving average of $133.82 and a 200 day moving average of $113.72. Rambus, Inc. has a 12 month low of $61.16 and a 12 month high of $174.10.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Equities analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on RMBS. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Jefferies Financial Group boosted their target price on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Rosenblatt Securities raised their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Evercore reiterated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. One equities research 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 company. Based on data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average target price of $130.43.

Rambus Company Profile

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.