Hollencrest Capital Management Acquires 1,822 Shares of Rambus Inc. (NASDAQ:RMBS)

Hollencrest Capital Management boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 330.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,373 shares of the semiconductor company’s stock after buying an additional 1,822 shares during the quarter. Hollencrest Capital Management’s holdings in Rambus were worth $152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Simplicity Solutions LLC bought a new stake in shares of Rambus during the 2nd quarter valued at approximately $1,233,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Rambus during the first quarter worth $1,865,000. Bank of New York Mellon Corp increased its holdings in shares of Rambus by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 1,126,226 shares of the semiconductor company’s stock worth $72,270,000 after buying an additional 100,884 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Rambus by 58.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 14,397 shares of the semiconductor company’s stock valued at $924,000 after acquiring an additional 5,299 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in shares of Rambus by 233.2% during the 1st quarter. Putnam Investments LLC now owns 220,445 shares of the semiconductor company’s stock valued at $11,300,000 after acquiring an additional 154,279 shares in the last quarter. Institutional investors own 86.15% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $66.22 on Friday. Rambus Inc. has a fifty-two week low of $34.77 and a fifty-two week high of $68.54. The company has a 50 day simple moving average of $57.25 and a two-hundred day simple moving average of $57.69. The company has a market capitalization of $7.12 billion, a PE ratio of 25.37, a P/E/G ratio of 3.23 and a beta of 1.23.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, October 30th. The semiconductor company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.52. Rambus had a net margin of 63.15% and a return on equity of 19.08%. The company had revenue of $105.30 million for the quarter, compared to analyst estimates of $131.20 million. During the same period in the prior year, the firm posted $0.40 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts predict that Rambus Inc. will post 1.44 EPS for the current year.

Analyst Upgrades and Downgrades

RMBS has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $73.00 target price on shares of Rambus in a research report on Tuesday, September 19th. StockNews.com began coverage on shares of Rambus in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group upped their price target on shares of Rambus from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet upgraded shares of Rambus from a “c+” rating to a “b+” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.80.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $60.00, for a total value of $480,000.00. Following the transaction, the director now directly owns 57,686 shares of the company’s stock, valued at approximately $3,461,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Emiko Higashi sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $60.00, for a total transaction of $480,000.00. Following the completion of the sale, the director now owns 57,686 shares of the company’s stock, valued at approximately $3,461,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 10,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $57.43, for a total transaction of $574,300.00. Following the transaction, the director now owns 28,653 shares in the company, valued at approximately $1,645,541.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,309 shares of company stock worth $2,139,942. Company insiders own 1.00% of the company’s stock.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.