48,013 Shares in Rambus, Inc. $RMBS Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,013 shares of the semiconductor company’s stock, valued at approximately $6,110,000.

A number of other hedge funds have also recently added to or reduced their stakes in RMBS. Krilogy Financial LLC raised its position in shares of Rambus by 3.8% during the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after purchasing an additional 81 shares during the period. Oak Grove Capital LLC lifted its holdings in shares of Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after purchasing an additional 103 shares during the period. Balefire LLC grew its position in Rambus by 3.8% in the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 108 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in Rambus by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the sale, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 20,000 shares of company stock valued at $3,185,750. Insiders own 0.75% of the company’s stock.

Rambus Trading Down 5.9%

Shares of NASDAQ:RMBS opened at $85.76 on Friday. Rambus, Inc. has a 1-year low of $70.90 and a 1-year high of $174.10. The stock has a market cap of $9.30 billion, a PE ratio of 39.34 and a beta of 1.88. The stock’s fifty day simple moving average is $103.19 and its two-hundred day simple moving average is $112.04.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on RMBS. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Glj Research set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $145.88.

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.