Vident Advisory LLC Has $4.06 Million Stock Position in Rambus Inc. (NASDAQ:RMBS)

Vident Advisory LLC raised its position in Rambus Inc. (NASDAQ:RMBS) by 10.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 65,673 shares of the semiconductor company’s stock after acquiring an additional 5,991 shares during the period. Vident Advisory LLC owned approximately 0.06% of Rambus worth $4,059,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its position in shares of Rambus by 38.1% during the fourth quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock valued at $15,621,000 after buying an additional 62,880 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rambus during the fourth quarter valued at approximately $1,434,000. Raymond James & Associates boosted its position 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 valued at $2,193,000 after buying an additional 19,582 shares during the last quarter. American International Group Inc. boosted its position in shares of Rambus by 231.7% during the fourth quarter. American International Group Inc. now owns 198,577 shares of the semiconductor company’s stock valued at $13,553,000 after buying an additional 138,714 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new position in shares of Rambus during the fourth quarter valued at approximately $9,190,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ RMBS traded up $1.60 during trading on Friday, reaching $58.40. 367,540 shares of the stock traded hands, compared to its average volume of 1,438,410. Rambus Inc. has a 52-week low of $48.13 and a 52-week high of $76.38. The company has a 50-day moving average of $58.42 and a 200-day moving average of $60.27. The stock has a market capitalization of $6.29 billion, a P/E ratio of 17.37 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Rambus had a return on equity of 16.99% and a net margin of 78.14%. The firm had revenue of $133.60 million for the quarter, compared to analysts’ expectations of $132.00 million. Analysts expect that Rambus Inc. will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eric B. Stang sold 5,408 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the sale, the director now owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research analyst reports. Susquehanna cut their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Company 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.