Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management lifted its stake in Rambus Inc. (NASDAQ:RMBS) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,290 shares of the semiconductor company’s stock after acquiring an additional 684 shares during the quarter. Meritage Portfolio Management’s holdings in Rambus were worth $907,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its holdings in Rambus by 38.1% during the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock worth $15,621,000 after buying an additional 62,880 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Rambus by 156.0% during the fourth quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock worth $2,193,000 after purchasing an additional 19,582 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Rambus by 1,326.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock worth $3,186,000 after purchasing an additional 43,400 shares during the last quarter. Mesirow Institutional Investment Management Inc. grew its holdings in shares of Rambus by 40.9% during the third quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock worth $13,426,000 after purchasing an additional 69,895 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Rambus by 3.1% during the fourth quarter. Diversified Trust Co now owns 21,549 shares of the semiconductor company’s stock worth $1,471,000 after purchasing an additional 643 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Trading Up 2.4 %

RMBS traded up $1.41 on Friday, hitting $59.53. 643,968 shares of the company’s stock were exchanged, compared to its average volume of 1,548,150. Rambus Inc. has a twelve month low of $43.58 and a twelve month high of $76.38. The firm has a market cap of $6.46 billion, a PE ratio of 19.66 and a beta of 1.16. The stock has a fifty day moving average of $59.92 and a two-hundred day moving average of $62.55.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. On average, analysts predict that Rambus Inc. will post 1.63 EPS for the current year.

Insider Activity at Rambus

In related news, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.18, for a total value of $487,304.66. Following the transaction, the chief financial officer now directly owns 41,958 shares in the company, valued at approximately $2,608,948.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Desmond Lynch sold 7,837 shares of Rambus stock in a transaction dated 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 transaction, the chief financial officer now directly owns 41,958 shares of the company’s stock, valued at approximately $2,608,948.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the sale, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,084 shares of company stock worth $7,408,298. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RMBS. Wells Fargo & Company raised their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average price target of $77.75.

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.