Harvest Fund Management Co. Ltd Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Harvest Fund Management Co. Ltd bought a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,132 shares of the semiconductor company’s stock, valued at approximately $335,000.

Several other hedge funds have also modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 200 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Rambus by 0.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,193 shares of the semiconductor company’s stock worth $1,740,000 after acquiring an additional 220 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 224 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Rambus by 15.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,676 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 227 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its stake in Rambus by 3.7% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,446 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 340 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on RMBS shares. Wells Fargo & Company increased their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Transactions at Rambus

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction dated 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 directly owns 121,229 shares of the company’s stock, valued at $6,667,595. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP John Shinn sold 3,889 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $62.68, for a total transaction of $243,762.52. Following the completion of the transaction, the senior vice president now directly owns 24,559 shares of the company’s stock, valued at approximately $1,539,358.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at $6,667,595. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,084 shares of company stock worth $7,408,298. Company insiders own 1.00% of the company’s stock.

Rambus Stock Up 0.1 %

NASDAQ RMBS traded up $0.08 on Wednesday, reaching $56.52. The stock had a trading volume of 1,304,777 shares, compared to its average volume of 1,561,730. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 18.81 and a beta of 1.16. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The stock has a fifty day moving average price of $59.89 and a two-hundred day moving average price of $62.62.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping 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 business had revenue of $136.00 million for the quarter, compared to analyst estimates of $134.00 million. Sell-side analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

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.