Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,997 shares of the semiconductor company’s stock after purchasing an additional 229 shares during the period. Bleakley Financial Group LLC’s holdings in Rambus were worth $680,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in Rambus during the first quarter valued at about $28,000. Blue Trust Inc. grew its holdings in Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp grew its holdings in Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Rambus in the fourth quarter valued at approximately $66,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Rambus in the first quarter valued at approximately $90,000. Institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the completion of the transaction, the director now owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Shares of Rambus stock opened at $59.58 on Thursday. The stock has a market capitalization of $6.42 billion, a PE ratio of 18.22 and a beta of 1.20. Rambus Inc. has a 52 week low of $48.13 and a 52 week high of $76.38. The stock has a 50 day moving average price of $58.04 and a two-hundred day moving average price of $60.44.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $133.60 million for the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. Research analysts forecast that Rambus Inc. will post 1.36 EPS for the current year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Rambus in a research note on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

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.