Nordea Investment Management AB Increases Position in Rambus, Inc. $RMBS

Nordea Investment Management AB grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 101.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 139,430 shares of the semiconductor company’s stock after acquiring an additional 70,314 shares during the period. Nordea Investment Management AB’s holdings in Rambus were worth $14,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Steigerwald Gordon & Koch Inc. bought a new position in Rambus during the 3rd quarter worth approximately $25,000. Abound Wealth Management bought a new position in Rambus during the third quarter worth $28,000. True Wealth Design LLC boosted its holdings in Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 260 shares during the period. Bessemer Group Inc. increased its stake in Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Rambus by 1,386.0% during the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 596 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of Rambus stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the transaction, the director directly owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Wells Fargo & Company lifted their target price on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Evercore ISI boosted their price objective on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $108.14.

Rambus Stock Up 2.4%

NASDAQ:RMBS opened at $103.07 on Friday. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $114.55. The firm has a market cap of $11.10 billion, a P/E ratio of 48.85 and a beta of 1.51. The business’s 50-day moving average price is $96.15 and its 200 day moving average price is $88.04.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.18). The business had revenue of $178.51 million for the quarter, compared to analyst estimates of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Sell-side analysts expect that Rambus, Inc. will post 1.89 EPS for the current year.

Rambus Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.