Rambus Inc. (NASDAQ:RMBS) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. increased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 156.7% in the second quarter, HoldingsChannel reports. The firm owned 14,822 shares of the semiconductor company’s stock after acquiring an additional 9,047 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Rambus were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in Rambus by 2.0% during the second quarter. Crossmark Global Holdings Inc. now owns 8,606 shares of the semiconductor company’s stock valued at $538,000 after acquiring an additional 165 shares in the last quarter. Diversified Trust Co increased its position in shares of Rambus by 1.0% in the second quarter. Diversified Trust Co now owns 20,388 shares of the semiconductor company’s stock valued at $1,308,000 after buying an additional 198 shares in the last quarter. Xponance Inc. increased its position in shares of Rambus by 3.3% in the second quarter. Xponance Inc. now owns 6,399 shares of the semiconductor company’s stock valued at $411,000 after buying an additional 206 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Rambus by 3.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,749 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 221 shares in the last quarter. Finally, Advisor Partners II LLC increased its position in shares of Rambus by 2.5% during the first quarter. Advisor Partners II LLC now owns 11,028 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Rambus Stock Performance

Shares of Rambus stock traded down $3.01 during trading hours on Tuesday, hitting $66.61. The company’s stock had a trading volume of 515,312 shares, compared to its average volume of 1,303,645. Rambus Inc. has a twelve month low of $34.77 and a twelve month high of $69.78. The firm has a fifty day moving average of $57.51 and a 200-day moving average of $57.92. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 3.23 and a beta of 1.23.

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

Insider Buying and Selling

In related news, Director Steven Laub sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $66.91, for a total transaction of $133,820.00. Following the transaction, the director now owns 7,761 shares of the company’s stock, valued at approximately $519,288.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Xianzhi Sean Fan sold 17,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $54.99, for a total transaction of $951,821.91. Following the sale, the chief operating officer now directly owns 168,223 shares in the company, valued at $9,250,582.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven Laub sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.91, for a total transaction of $133,820.00. Following the sale, the director now owns 7,761 shares in the company, valued at $519,288.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,309 shares of company stock valued at $2,139,942. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $73.00 price target on shares of Rambus in a research report on Tuesday, September 19th. StockNews.com began coverage on Rambus in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group boosted their price objective on Rambus from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, TheStreet raised Rambus from a “c+” rating to a “b+” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.80.

About Rambus

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.