TD Asset Management Inc Has $2.64 Million Stock Holdings in Rambus, Inc. $RMBS

TD Asset Management Inc grew its stake in Rambus, Inc. (NASDAQ:RMBS) by 463.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,306 shares of the semiconductor company’s stock after acquiring an additional 20,816 shares during the period. TD Asset Management Inc’s holdings in Rambus were worth $2,637,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RMBS. Vanguard Group Inc. grew its stake in Rambus by 1.1% in the third quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock valued at $1,323,525,000 after purchasing an additional 140,948 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after buying an additional 1,618,133 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rambus by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after buying an additional 35,744 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Rambus by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock worth $129,289,000 after buying an additional 235,253 shares during the last quarter. Finally, Norges Bank acquired a new position in Rambus during the second quarter worth $126,268,000. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RMBS shares. Zacks Research upgraded shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Susquehanna cut their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Finally, Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $105.71.

Rambus Stock Performance

Shares of Rambus stock opened at $92.04 on Thursday. The firm has a 50-day moving average of $102.56 and a 200-day moving average of $97.03. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The stock has a market cap of $9.92 billion, a PE ratio of 43.62 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The business had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. Equities research analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 39,914 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

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.