Hood River Capital Management LLC Raises Stock Position in Rambus, Inc. $RMBS

by · The Markets Daily

Hood River Capital Management LLC boosted its position in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,600 shares of the semiconductor company’s stock after purchasing an additional 10,706 shares during the quarter. Hood River Capital Management LLC’s holdings in Rambus were worth $61,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in RMBS. True Wealth Design LLC raised its position in shares of Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after buying an additional 260 shares in the last quarter. Bessemer Group Inc. increased its stake in Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 238 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 596 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Rambus in the 1st quarter valued at about $42,000. Finally, Brooklyn Investment Group boosted its position in shares of Rambus by 19,360.0% during the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 968 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Up 2.8%

Shares of Rambus stock opened at $101.60 on Monday. The firm has a market cap of $10.94 billion, a PE ratio of 48.15 and a beta of 1.51. The company’s fifty day simple moving average is $99.16 and its two-hundred day simple moving average is $80.69. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $114.55.

Rambus (NASDAQ:RMBS – Get Free Report) last posted its earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) 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 period in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. As a group, sell-side analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RMBS shares. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, October 28th. Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a research report on Monday, October 6th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Robert W. Baird lifted their target price on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $108.14.

View Our Latest Analysis on Rambus

Insider Activity at Rambus

In other news, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $85.63, for a total value of $642,225.00. Following the completion of the transaction, the director owned 30,824 shares in the company, valued at $2,639,459.12. This trade represents a 19.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the sale, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. This represents a 12.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,227 shares of company stock worth $2,499,780 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Rambus Company Profile

(Free Report)

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.

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