Duality Advisers LP Takes Position in Rambus Inc. (NASDAQ:RMBS)

Duality Advisers LP bought a new position in Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,227 shares of the semiconductor company’s stock, valued at approximately $2,268,000.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Rambus by 65.8% during 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 in the last quarter. Orion Capital Management LLC purchased a new stake in Rambus in the 3rd quarter valued at about $39,000. Geneos Wealth Management Inc. bought a new position in Rambus in the 3rd quarter worth about $56,000. Finally, NBC Securities Inc. purchased a new position in shares of Rambus during the third quarter worth approximately $72,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RMBS. Wells Fargo & Company increased their price objective on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.20.

Rambus Price Performance

NASDAQ RMBS traded up $0.09 during midday trading on Monday, hitting $54.77. 192,991 shares of the company traded hands, compared to its average volume of 1,552,828. Rambus Inc. has a 52 week low of $43.58 and a 52 week high of $76.38. The company’s 50-day simple moving average is $59.94 and its 200-day simple moving average is $62.66. The company has a market cap of $5.95 billion, a PE ratio of 18.23 and a beta of 1.16.

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

Insider Activity

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares in the company, valued at approximately $6,667,595. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the sale, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the transaction, the chief executive officer now directly owns 304,755 shares in the company, valued at $18,946,618.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,084 shares of company stock worth $7,408,298. Corporate insiders own 1.00% of the company’s stock.

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.