Truist Financial Corp Boosts Stock Holdings in Rambus, Inc. $RMBS

Truist Financial Corp grew its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 795.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,033 shares of the semiconductor company’s stock after buying an additional 23,127 shares during the period. Truist Financial Corp’s holdings in Rambus were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RMBS. Torren Management LLC purchased a new position in shares of Rambus during the 4th quarter valued at approximately $26,000. Spire Wealth Management increased its holdings in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the 4th quarter valued at about $50,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 353 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meera Rao sold 2,972 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the sale, the director directly owned 19,974 shares of the company’s stock, valued at $3,002,092.20. The trade was a 12.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,123 shares of company stock worth $6,295,577. Corporate insiders own 0.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on RMBS. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. Rosenblatt Securities lifted their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group lifted their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Susquehanna cut their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $134.85 on Thursday. Rambus, Inc. has a one year low of $52.12 and a one year high of $161.80. The firm has a fifty day moving average of $107.15 and a 200 day moving average of $103.22. The firm has a market cap of $14.58 billion, a PE ratio of 64.21 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. On average, equities analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Rambus Company 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.