32,126 Shares in Rambus Inc. (NASDAQ:RMBS) Acquired by Van ECK Associates Corp

Van ECK Associates Corp bought a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 32,126 shares of the semiconductor company’s stock, valued at approximately $2,193,000.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares during the period. Fifth Third Bancorp increased its position in shares of Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Rambus in the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC purchased a new stake in shares of Rambus in the 4th quarter valued at approximately $66,000. Finally, NBC Securities Inc. purchased a new stake in shares of Rambus in the 3rd quarter valued at approximately $72,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Desmond Lynch sold 7,837 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.18, for a total transaction of $487,304.66. Following the completion of the sale, the chief financial officer now owns 41,958 shares in the company, valued at approximately $2,608,948.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP John Shinn sold 3,928 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the sale, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Desmond Lynch sold 7,837 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now owns 41,958 shares of the company’s stock, valued at approximately $2,608,948.44. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock worth $7,408,298 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Price Performance

NASDAQ RMBS opened at $56.34 on Wednesday. The firm’s fifty day moving average price is $59.86 and its 200 day moving average price is $62.48. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 17.23 and a beta of 1.18. Rambus Inc. has a 12 month low of $46.89 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The company had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.35 earnings per share. As a group, sell-side analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current year.

Rambus Profile

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.