Cercano Management LLC Makes New $21.85 Million Investment in Rambus Inc. (NASDAQ:RMBS)

Cercano Management LLC bought a new stake in Rambus Inc. (NASDAQ:RMBS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 320,184 shares of the semiconductor company’s stock, valued at approximately $21,853,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings 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 buying an additional 200 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Rambus by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,193 shares of the semiconductor company’s stock valued at $1,740,000 after buying an additional 220 shares during the period. Blue Trust Inc. raised its holdings in shares of Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 224 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Rambus by 15.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,676 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 227 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Rambus by 3.7% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,446 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Trading Up 1.9 %

RMBS traded up $1.11 on Friday, hitting $59.23. 1,329,199 shares of the company were exchanged, compared to its average volume of 1,135,415. Rambus Inc. has a twelve month low of $43.58 and a twelve month high of $76.38. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 19.74 and a beta of 1.16. The firm has a 50-day moving average price of $59.98 and a two-hundred day moving average price of $62.56.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. Equities analysts expect that Rambus Inc. will post 1.63 EPS for the current year.

Insider Transactions at Rambus

In other news, SVP John Shinn sold 3,928 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now directly owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP John Shinn sold 3,928 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now directly owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Desmond Lynch sold 7,837 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was 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 of the company’s stock, valued at $2,608,948.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by corporate insiders.

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.