Westwood Holdings Group Inc. Purchases 504,852 Shares of Rambus, Inc. $RMBS

Westwood Holdings Group Inc. lifted its position in Rambus, Inc. (NASDAQ:RMBS) by 41.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,737,062 shares of the semiconductor company’s stock after purchasing an additional 504,852 shares during the period. Rambus comprises 0.8% of Westwood Holdings Group Inc.’s portfolio, making the stock its 26th largest holding. Westwood Holdings Group Inc. owned approximately 1.61% of Rambus worth $111,207,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tealwood Asset Management Inc. boosted its holdings in Rambus by 0.7% in the 2nd quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock worth $1,310,000 after buying an additional 150 shares during the period. Signaturefd LLC lifted its position in shares of Rambus by 14.8% in the second quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 166 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Rambus by 2.0% in the first quarter. Nations Financial Group Inc. IA ADV now owns 9,104 shares of the semiconductor company’s stock worth $471,000 after acquiring an additional 179 shares during the period. Dakota Wealth Management boosted its stake in shares of Rambus by 3.4% in the second quarter. Dakota Wealth Management now owns 5,681 shares of the semiconductor company’s stock worth $364,000 after acquiring an additional 189 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of Rambus by 3.3% during the first quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS opened at $94.23 on Friday. The stock has a 50 day moving average price of $99.18 and a 200-day moving average price of $82.22. Rambus, Inc. has a one year low of $40.12 and a one year high of $114.55. The company has a market capitalization of $10.14 billion, a P/E ratio of 44.66 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a return on equity of 17.73% and a net margin of 33.72%.The business had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, equities analysts predict that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Evercore ISI lifted their price objective on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Arete Research raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Thursday, August 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, October 28th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $108.14.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of Rambus stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the transaction, the director owned 20,394 shares in the company, valued at approximately $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $91.70, for a total value of $832,085.80. Following the sale, the chief financial officer directly owned 64,430 shares in the company, valued at $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,727 shares of company stock worth $1,857,555 in the last three months. Insiders own 1.00% of the company’s stock.

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.